Here’s the latest #BayAreaRealEstate 🏠#MonthlyMarketMinute ⏳ where I go over the sales transaction data from each county for the month of October 2023. Surprisingly, there was a rise in transaction volume. That’s not typical for this time of year.
There was a drop in median sales prices across most counties. Rising rates are impacting many first time buyers’ affordability.
There are are some cities where buyers are getting large discounts. For example, buyers in Stanford were paying over 20% less than the listing price on average!
If you’d like more insights on your local market, feel free to reach out and I’ll be happy to share them with you:
Laurence Lee, Broker