Robin & Les Wrigley

                                 Peninsula Real Estate Market Update

The Peninsula real estate market is showing signs of bottoming out. While home sales are still down, sales prices appear to be firming, particularly in the Mid-Peninsula and West Valley. Overall, homes are selling within 5% of asking price.

The number of homes on the market is the lowest in over two years. At the same time, lured by historically low mortgage rates, home buyers are returning to the market. The supply of homes is less than 3 months, which usually signifies a tight market.  Indeed, in some cases we are seeing multiple offers being made on homes in certain areas. It all depends on where you are looking.

If you are thinking about moving in the coming year, it is vitual to keep up to date on your local market.  If you have any questions, please feel free to give us a call or an email.