Even attached housing exhibited strength. Early spring saw an uptick in sold numbers and sales ratio, which dropped during the height of the stay-at-home orders but rose again in August. “As soon as the initial order was lifted, demand took off and remains hot today, as the housing shortage continues and interest rates remain at historically low levels,” says Monasch. Low inventory was the primary driver. “The fall market is characterized by fewer listings, which is consistent with history,” notes Waelde. “As single-family home prices have gone through the roof, buyers have been more receptive to attached homes in order to get into the market, creating even more demand.”
house in Pleasanton, priced at $2.18 million, garnered 16 offers and sold for $2.35 million.” Monasch’s experience was similar: “Most of my listings received multiple offers, and my colleagues experienced this as well.” Days on market also dropped, compared to 2019. This was likely due to several factors, including East Bay agents setting an offer date 7 to 10 days out from the initial MLS listing and a new MLS “Coming Soon” option that allows homes to be shown by appointment prior to full active status. The latter allowed sellers to accept a strong preemptive offer rather than deal with the inconvenience of multiple showings during the pandemic.
Inventory
M O N T H LY C O M PA R I S O N
$1,066,470
$1,064,000
$1,100,000
40
Dec-19
51
50 30
Jan-20
43
$1,020,000
$1,009,000
$1,050,000
57
50
Mar-20
$1,050,000
91
May-20
$995,000
72 53
47
Apr-20
$988,000
79
66 19
Feb-20
60.85%
– AT TACHED HOME S –
94 48
Sales Ratio Number
Total Sold
60
$1,034,758
69
79
$1,005,000
72
$999,500
81 54
68
34
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
$976,000
50
65
Dec-20
COLDWELL BANKER GLOBAL LUXURY® - THE REPORT 2021 | 51