Spring is here! We love seeing all the fresh blooms and are enjoying the green in the hills before everything turns California golden. Our five-person team is only two shots away from being fully vaccinated! While we have enjoyed connecting with many of you virtually for our real estate reviews (contact us if you're interested in one too), we are hopeful for more in-person visits soon!
All the best,
Adam, Wendy and Kat
The Market Is Strong!
Q1 is typically a slower quarter, its sales and sales prices mostly reflecting activity during the mid- winter holiday “doldrums,” as the market gradually wakes up in the new year. But there was little in the way of doldrums this winter – sales volume actually peaked for the year in Q4 2020 – and the first quarter quickly accelerated into a very competitive market. Inventory levels are similar to what they were in spring 2018 which was a peak in the market.
Overbidding List Prices
The high demand/low supply environment has driven significant increases in median sales price and $/sqft in short time. While Silicon Valley is no stranger to bidding wars, properties in great locations have seen significant overbidding
across price points.
Luxury Home Sales
Interest rates, though still extremely low by historical standards, have climbed since their all- time low in January. Luxury home sales continue at an impressive rate across the Bay Area, but San Mateo County leads all counties with the number of home sales over $3m.
The Resolve Group works with purpose and determination to find the best solutions for clients’ real estate needs. They bring together a complementary set of skills to deliver innovative, yet practical real estate services for sophisticated buyers and sellers.
