Sieze the moment…
The October numbers from the California Association of REALTORS® (C.A.R.) paint a picture of opportunity and gradual, healthy shifts! We’re seeing a market that’s taking a deep breath, offering some breathing room.
For buyers, the news is genuinely encouraging. While the Median Price remains strong at $886,960 (a near-flat -0.2% YTY change), we are seeing more inventory—the Unsold Inventory is up 3.2% YTY to 3.2 Months. Best of all, homes are staying on the market longer, up to 32 Days. This means you have more time to find your perfect fit, negotiate confidently, and not rush into a decision. Plus, the 6.25% 30-Year Fixed Rate is holding steady, offering consistency for your financing plan.
For sellers, demand is still robust! We celebrated 282,590 Existing Home Sales, marking a solid 4.1% YTY increase—people are actively buying! Yes, we see a slight easing in the Sales-to-List Price Ratio (98.3%), which means we need to price strategically and prepare the home flawlessly to capture top dollar.
These market movements are a positive sign of stabilization, moving away from past extreme volatility. I’m here, ready to help you navigate these opportunities and craft a winning strategy, whether you’re searching for your dream home or maximizing your sale!
Source: California Association of REALTORS®