🔴[LIVE] Bay Area Reports Sales Price last 12 months. 10 Bay Area Counties
🔴[LIVE] Monday Bay Area Reports Sales Price last 12 months. 10 Bay Area Counties
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🔴[LIVE] Bay Area Reports Sales Price last 12 months. 10 Bay Area Counties
San Mateo, Marin, San Francisco, Santa Clara, Napa, Santa Cruz, Alameda, Contra Costa, Sonoma, Solano
Unemployment inflation supply. Inventory and what's, going on with the banks. That's what we're talking about today. But first, let's go into the numbers Because everybody loves numbers, right? Hope y'all had a great weekend. I did. I just sat down and. Did really nothing. I needed that week off Because I was out there doing some physical work, getting a house ready to go.
We have some serious stuff coming up in the next couple days, which I'm excited about. But again inventory is what it is. People are clamoring to buy these houses before they ev even get on market, which is awesome. The long-term view. I've been talking to a lot of people. They believe that real estate is still a very healthy place to park their money.
It's much less volatile than the stock market. And savings, even though there's some places that can go up to 4.25 in the cd and Apple's now doing bank, I say I think it's a savings account for 4%, which is pretty awesome. But then you think about what the inflation rate has been and you know your cost of dollar, the cost of the dollar is 7% every year.
So boiling that down to inflation. Where do you park your money? And that's a question I've been asking everybody. And everybody has different stories, everybody has different ideas. And when I mentioned the houses that I had for sale, a couple people are like, oh, we should buy it together. Who knows, right?
Who knows what's going on, who knows what will happen. But yeah, I think. Residential real estate for sure is a safe place. And I think if you look at these numbers, you'll realize that's pretty much the consensus. If you have a wa of cash instead of parking it in stocks and you see a, recession looming, why wouldn't you put it into something that is a lot safer?
I e gold, I don't know about Bitcoin or those euro, whatever the electro. Bit thingies. Not into that, but real estate for sure. Now the question is where I've been toying with the idea of buying. Some apartments as well, and one of my gurus, my, one of my mentors, stating that I should hold off because I don't have experience in, commercial real estate as an investor, right?
I've, helped people get into, commercial places before, but not as me buying it as an investment.
I think there, what he's saying is that commercial is set to crash, not crash, but contract like residential did over the last 12 months. And if you continue to see what's going on here, we're still going into. Unemployment. A lot of people, a lot of the the, ducklings are saying the economy's going to crash and we're going to see a lot of people out of jobs.
I don't think that's going to hurt. The residential market, especially here in the Bay Area, because people that got into a million or two or 3 million homes understand what they're getting into and on for the most part, right? There's people that go in there, manby pamby, without a plan and. They're not planning for a layoff for six months to a year, pardon me?
Got up at four 30 this morning. So I don't think it's going to affect if the, recession happens, I don't think it'll affect people that have homes, especially at two and two and a half percent interest. They're going to do whatever they can beg, borrow and steal, bring in roommates, what have you, to make sure that mortgage payment's paid.
But if you look at the numbers here and you're like 834 houses closed now that's down in volume for sure, from last year. From March, April, may of last year. Those numbers are Dr. Were drastically higher, but that's because the, inventory is down, not because people don't want to buy.
We still have a high, if you look at the number, the ratio of homes available for sale today and the number of homes that go into contract, it's just as healthy as was as it was before. And multiple o multiple offers on most homes are still there. On, I think it was like 60% just for San Jose. I don't know what it is, countywide or what it is over the last, over the, all these counties, all the 10 counties.
But for the most part, multiple offers are back. People are vying to buy houses, especially ones in good areas or in impeccable shape, or ones that are highly sought after. And. A smart seller would listen to their agent and say, list it lower than what we think we're going to get and get a ton of offers in, and you'll sell that house.
We sold a house we, we could have in San Lorenzo. This little house was 1200 square feet, 16, 12, 1400 square feet. We had 13 offers on it. We could have sworn up and down, it was going to sell for 8 25, 8 30, maybe eight 50. That would've been super happy for our clients. There was so much competition. We had people, I had an offer in saying it, was it the deadline was Friday at 8:00 PM and you had to take it, or also it was going to go away.
They didn't go away. We know how to play our cards and as much as she pushed. The agent on the other side, we're like, we're just going to hold off. We're going to see what the weekend brings. And we brought it, brought 12 other offers for this simple home. It's a very modest home, right? That's under a million dollars.
Which is attractive. It's attractive to home homeowners and investors and people that are parking money.
When your agent tells you, list it lower, cause it really doesn't matter. You don't control the price, you don't control the final sale price. You control the list price and you control when you put it on market. And that's pretty much it. You have to let the market come to you. And if you have it overpriced saying I need this kind of money, you'll never get that kind of money.
First of all. Because your mindset is you're coming from a mindset of lack instead of abundance. When we talk about that during the listing process. The listing presentation, your house will sell, right? And 90%, 95% of the sellers out there listen and understand that it's just a simple thing. You let the market come to you.
Okay? So enough of that. Volume wise weren't healthy. Average sales price were healthy, not as what we were last year. And don't look at Solano. I'm still trying to figure that out because if you look at last year, we're up 172% of last year. That was last week or this week, and the week before was 1 78. So these numbers I think are off.
So let's not even look at this and don't look at these numbers either. Look at these. These ones make sense. And I'm even thinking that Alameda and Contra Costa are a little off too, because yeah,
I don't see how they make maybe they did. So anyway, I want to bring in congratulate San Francisco for coming over the billion dollar mark. Napa and Santa Cruz are still half a billion four tenths of a billion or 400,000,200 65 million for Napa, which you'd think that would be a great place for people to live.
Marin County Sonoma. I have a buddy that lives up there. A million dollar house. Awesome. But still they're from last year. These are the average sales prices from last year. This is what we're seeing. Everything is under Liz Price. Now, San Mateo went over once last, week, but on the average you're looking at 99.8.
So you're just under, under the number. And yet we're still reporting multiple offers. We're still reporting houses selling for 30, 40% over list price. Because of the averages, right? We look at the highest and lows. Last week we had 127 and we also had 75. And is it here? That I can tell you? Yeah, we're about 60% over list price.
On average, 48%, but this last few weeks it's about 60%. The last few months we're, ranging at about 60%, right? Because we had a pretty big dip here in February, but now everything is really, 60% of the homes sold i e 45 out of the 67 that sold last week in San Jose are over list price one over 100% less price.
Health wise, I think real estate's doing really healthy. I think we need more, supply. I think though it's smart that we have rates as high as it is and rates, I think last week were six and a half percent, Because that pushes people out of affordability. As sad as that is. It keeps the market healthy and those that can do, those that have put away for the future and can buy, houses are doing.
So those that are living paycheck to paycheck and they're not living below their means, they're not saving for the future. They're always going to be able, they're always going to rent, right? And I'm not saying that is a bad thing. I'm just saying that's how that is. You, we have financial intelligence coming.
You're allowed to come and watch that for through us. It's zero cost. It's easy for you to learn about it. This week I, listened to a talk about money and attitude, and this is wrong right here. And mindset, and if you bring a mindset of abundance and you live within your means, a lot of things change for your life.
And that's the truth, right? You give to those that can't. And that's part of the serving thing, right? I talk about serving, I talk about giving back. I talk about being a part of community, but really this thing here, really it's, Giving of yourself to others that don't have or have not ever seen it.
And that's why we do financial intelligence. That's why I do the bike build. That's why we do the park cleanup Because they give to the community. We give back to the community because we have an a mindset of abundance and we want to share that mindset with others so that we as a community grow and live in abundance.
That's that, right? If you're interested in what your house might be worth, I have a link down here. Let me get back to this real quick. Home bought, I know I keep pushing this a lot, but guys, people love this. You get information from it and you get a lot of great. Intel from what you could do with your house, how you can expand the value of your house, how you can improve your house if you have equity, what you can do to pull out that equity and use it.
All sorts of great things you can do with it. It's, a fantastic system and As accurate or inaccurate, some might say. I also follow it up with a thing where you get CMA once a month and a portal so you can see what your home is worth. Let's see if I have that up available. I don't have it. I got rid of it.
But you can also get something from me once a month. This comes once every other week, I think, just to give you an update of where the, where your house is on an A V M or automated valuation. And what we do is we talk about where the market's going, how you can capture more of that market.
And if you're thinking about investing in different areas, this is a great place and I get zero. Affiliation from this. I think it's a fantastic tool. If it's something that you want to use, it. This housing alerts.com. They tell you where all the hotspots are and where the cooling spots are and where places are growing.
Now, these are just real-time numbers when you pay for the system. You get trends in data and suggestions. So look into that if you're going to invest. Oh, yeah. Speaking of serving, I was put on LaMer. We have a project called at LaMer Elementary. Now, hang on a sec. LaMer Elementary is a a, School of Campbell that I went to when I was a child.
And when this came to me as an opportunity to do it, I don't even know what we're doing. I'm a, I'm, I've, I volunteered to be a sub lead on it. Can't tell you much more other than I'm excited to check this out. Let me see if I actually have a photo of the details here.
No, that's Happy Hollow. I was thinking Happy Hollow. But there's also, there's 19 projects that beautiful Day is doing this year. If you're interested in learning more or volunteering and becoming a, lead or just helping out, I think it's October 5th and sixth. It's a great project for you to bring your kids and teach 'em how to be a part of a community and give, back.
Okay, I don't have it. So anyway, that was that beautiful day.org. You can volunteer if you want to do anything. Let me know. Last year we did a food bank. It was awesome. Met some amazing people within the church, but also within that community within the food. I call it food bank, but it's Santa Maria mission Santa Maria off of First Street.
And amazing people with amazing hearts and a lot of good, hardworking people that are just struggling to make it every day. So we helped out there, and this year I'm not sure what we're doing. I'm sure we're doing murals and landscaping and painting and all sorts of stuff at LaMer, and I'll let you know more as we move along.
All right? Yeah. Okay. Enough of that. Okay. That's it. I went way over, but I started pitching on my community stuff. That's it for today. We'll see you out there.