from Bernard Gibbons & Michelle Hensley
The higher interest rates are having an effect in our area, although homes are still selling as can be seen in the Pending sales above. Inventory is lower than it has been, although this is not unusual at the end of August, and many sellers have had to lower their expectations to get a sale agreed. These homes are Highlighted Above.
It’s interesting to note that two of the recent sales in August sold above list price, but this was after a significant price reduction in both cases. This shows that there are still buyers out there, but with multiple offers becoming less common, they know they have less competition to concern them. So homes are taking longer to get a sale agreed. Many homes are seeing price reductions and when the list price is perceived by buyers to be good value, a sale gets agreed quickly.
The time between getting a sale agreed and closing means that recent sales are not as great an indicator of value as is normally the case. Sellers are advised to consider the price of competitive active listings and price accordingly.
Questions about the real estate market in Twin Creeks or anywhere else? Call Bernard Gibbons on (925) 997-1585 or Michelle Hensley on (925) 785-5544 anytime, or email team@bernardgibbons.com. We will help in any way we can and we are always happy to hear from you.
Living In Twin Creeks is brought to you by Bernard Gibbons and Michelle Hensley as a complimentary service to potential home buyers and sellers in Twin Creeks.
Bernard Gibbons, CA DRE# 01331583
Tel/Txt: (925) 997-1585
Michelle Hensley, CA DRE# 00881574
Tel/Txt: (925) 785-5544
LivingInTwinCreeks.com Copyright © Bernard Gibbons, 2020, 2021, 2022
RE/MAX Accord, 313 Sycamore Valley Rd. West, Danville, CA 94526
Get full details of all homes for sale in Twin Creeks right now! Detailed descriptions, unlimited large photos and more. Just fill in the form below and we’ll get right on it!