It’s been a wild ride since the end of March. There was much conjecture as to how the Covid-19 pandemic would affect our Real Estate market. Because this type of crisis had never happened before, opinions seemed to be based on ‘best guess projections.”
Right before the traditional busy season, our market was put on hold. Listings and buyers were held back. Now it’s like the pressure has been released; the market is quickly picking up and maybe heading up faster than we expected…. Like a slingshot.
Although we have graphs to depict the sharp declines in Homes for Sale over the past few months, these small ‘snapshots” don’t always show us the entire picture.
Here’s what we know for sure:
Home prices have not gone down since this time last year
We are still seeing homes receiving multiple offers and selling for over asking
The Westside is still able to experience a hot ‘niche’ market.
Statistics for JUST Westside Danville and Alamo: Last year: March thru June 12 Sold properties $1,719,833 was the average sales price
This year: March thru June 15 Sold properties $1,734,733 is the average sales price
This is encouraging news for everyone. No one knows what tomorrow or next month or next year will bring, but for now, if we look at our small slice of heaven, here on the Westside, things are looking up.
**Featured Home** Westside Danville Estate. This 6 bedroom 51/2 bath home sits amidst giant oaks, green lawns and brick walkways of over 1 acre. It also has a detached in-law unit with level in access. An added bonus is the huge attic space of over 1000 feet that can be built out into more living space. Property is private and gated and even has a separate building for the handyman. Asking price: 3,400,000.
Call Janice for more information on this home or our market statistics. 925-580-7482
By Janice Jordan, Broker/Associate Compass, Resident since 1998