November 2018 Real Estate Market Update by John St. Clair III

STATE OF THE REAL ESTATE MARKET November 2018 Real Estate Market Update

John & Lydia Direct: (650) 740-8363 Email: JohnStClair@kw.com DRE#: 01183450

We Specialize in Residential Real Estate Commercial Real Estate Investment Properties Property Management

Our Goal is to help as many families as possible realize their real estate dreams.

WWW.JOHNANDLYDIAHOMES.COM

NOVEMBER 2018 MARKET UPDATE Content Page Market Summary --Atherton -----------Belmont ------------Cupertino ---------Forter City ---------Los Altos -----------Los Altos Hills -----Menlo Park --------Mountain View ----Palo Alto -----------Redwood City -----San Carlos ---------San Jose ------------San Mateo ----------Santa Clara---------Sunnyvale -----------

3-4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

WWW.JOHNANDLYDIAHOMES.COM 2

NOVEMBER 2018 MARKET UPDATE MARKET SUMMARY You may have noticed recently there’s been a shift in the Real Estate Market. Since August 2018, the Median List Price in Santa Clara and San Mateo Counties have been decreasing. Some listed properties in these counties have experienced monthly list price reductions ranging from 15% to 42%*. Housing inventory and the timeframe to sell a property have been on the rise. Buyer’s demand is waning due to their frustration with the housing market and the house buying process. This may draw one to conclude that we’re in a Buyer’s Market, when in actuality, this is the normal seasonal trend of the market. However, we could definitely be headed in that direction if the current trend continues. For now, the market remains a Seller’s Market. Here’s why I say this. Historically, this time of the year produces fewer real estate buyers. The reason is because many buyers, have begun to focus on the holidays and many are taking a break due to their frustrations with the home buying process, (meaning locating a home, placing an offer and winning the offer). Never-the-less, many properties do sell during this time of the year. The serious Buyers are taking advantage of less Buyer competition and the reduction of home prices. Many of them want to move into a home by the end of the year.

WWW.JOHNANDLYDIAHOMES.COM 3

NOVEMBER 2018 MARKET UPDATE

In a way, this current market can be a Win-Win for Buyers who are serious about buying and Sellers who are serious about selling. This is why I encourage my buyer clients to continue actively looking and my seller clients to remain on the market. What follows are individual Real Estate Market Trends for many cities in Santa Clara and San Mateo Counties. They are designed to provide you an idea of the Housing trends in your city. If your city is missing or if you would like a more detailed analysis of your home’s value, Contact us at (650) 740-8363 or JohnStClair@kw.com. (*source: Altos Research: Real-Time Marketing Numbers – Nov 2018)

-----------------------If you're considering Buying, Selling or investing in Real Estate contact us and put our extensive experience to work for you. Contact Us At: JohnStClair@kw.com (650) 740-8363

WWW.JOHNANDLYDIAHOMES.COM 4

NOVEMBER 2018 MARKET UPDATE

. Click HomeValue for an instant Home Valuation

NOVEMBER 2018 MARKET UPDATE