December 2020
Hey, it’s Tanja with your monthly trends
report for december of 2020.
the number of homes listed for sale
in oakland berkeley san leandro and alameda
was up this december as compared to december of 2019
oakland was up by 56 percent
berkeley was up by 233
san leandro just 11… this is just two
houses so it’s probably not really significant
alameda was up by 222 percent
while this was up from the previous year
was actually down from november
so the month’s worth of inventory (this is
how we gauge the health
of a real estate market) so it all points
to it being a pretty hot seller’s market
everything was under one month worth of inventory
the important thing to note about this
is that even when you are in a hot market
not all homes are the same level of “hotness”
certainly location and condition play a
huge role
in you know… upping that average sold
price for a home,
but do not underestimate the ability of
your realtor to market your home
some of us are marketing and work like
we’re in 2020 and 2021 …
and some realtors out there are still
selling homes the same way
that was done in the 90s so with that
being said average sold price
for december year over year it was up
oakland was up by about five percent
berkeley up 13
san leandro up 21
alameda up 8
and there really wasn’t much of a
difference when compared to november
of 2020. so overall this is very consistent with the
way the market is in december this is
usually when the market is at its
slowest
however there’s houses still being sold
and prices are still up
year over year.
ONE of the biggest
questions that people have
out there is with all this coronavirus/covid stuff that’s happening, is the real
estate market going to crash?
so let’s see what the real estate
industry experts have to say about that
lawrence yen who is the chief economist
of the national association of realtors
has stated that this winter may be one
of the best winters for sales activity
and on a winter to winter comparison
this could be one of the best breakout
years just based on the fact that
pending contracts
are at such a higher level danielle hale
who is the chief economist
realtor.com states we expect home sales
in 2021 to come in
seven percent above 2020 levels and also
all major service providers like fannie
mae the mortgage brokers
bankers association and more are also
predicting um uh increase in home prices
in 2021 so the outlook there is very positive
you know i have heard from some buyers
that they are waiting for the market to crash
before they buy that home they may be
waiting for a very long time
and if you are thinking about buying you
are better off based on this information
buying earlier in the year than later in
the year after when prices have already gone up
a few other things that are probably
going to color the way the year goes
is prop 19 that first part that relates
to second homes and needing to have that
step up in basis
that part kicks in on february 16th so
that may or may not loosen up a few
people’s second homes by you know them
putting them on the market
on april 19th the second part of prop 19
kicks in which is the part that relates
to victims of natural disaster
the disabled and people who are 55 years or older
and their ability to now transfer their
tax base up to three times before it was
just once but now it’s going to be three times
also a lot of stuff is just going to
depend on what happens with coronavirus
and that vaccine distribution
so if you have any questions about any
of this feel free to comment below
shoot me a text send me an email my
contact information is all below
here and if you would like a market
trends report specific to your city
the request link is also below shoot me
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you know where to find me!