Hey Marc, How’s the Real Estate Market?

People are constantly asking me “Marc, how’s the real estate market?”  I could give a standard  optimistic view “market has never been better” or pessimitic view “The housing market is crashing.”   Reality is probably neither extreme, but somewhere in the middle.   Plus what is the market?  Is it homes over $2 million, under $500,000, is it Los Gatos or Cupertino.  Are we talking about single family homes, townhouse, condos or bare land.  Are we talking today, yeterday, last week, last month or what.

As you can see, it is difficult to answer that question unless its given with specifics.  The market is, has been and always will be dynamic.   I wish I could fortell the future.  But , I’d would be on the other end of the transaction, as a buyer or seller, instead of the agent if I had that knowledge.   What I can give to you are the facts and then try to help you interpet them.  Starting today, I will on a regular basis be updating the factual market place for all my clients.  Todays first report will be covering only one section of the market, but a critical section.  What has sold in the last xxxx time period and at what percentage of original list did it sell for?

The attached report will cover the following areas: Cupertino, Los Gatos, Monte Sereno, Saratoga from June 05 through 5:00 pm on June 10.  Later in the future I will be adding west San Jose, Almaden, Pebble Beach/Monterey area and Los Altos.  If someone wants a more specific area and or time frame, then whats given, please email your request.

On this report, I would recommend for you to focus on the area, then the column Sold$Org$ following up with DOM.  The Sold$Org$ shows in a quick snapshot for what percentage of original list (not the current list price) price for a give time period, each of these homes sold for.

Why is the percentage so important?   It in a quick snapshot helps both buyer and seller see what the current trend is in the market.  Example :  If the percentage is 105% of original list you may want to that the market is warming up.  If it is 85% of original price, that would make me feel just the opposite; that it is possibly cooling down.  Reminder though, don’t look at just one sale or one time period, but start looking at the averages of many instead and more importantly by area.   The average days on market will help also.  Remember don’t use these reports solely as your guideline in making a decision on whether to  buy or sell.  Use it as one tool of many others.

As always, feel free to call or email me with your specific request or needs, whether looking to buy, sell or just curious about something happening in the real estate market or how I personally view  the reports.  I wish you all the best in your real estate investments.

Click to enlarge Sold Price Analysis for Los Gatos, Monte Sereno, Saratoga & Cupertino

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4 Responses to “Hey Marc, How’s the Real Estate Market?”

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