With our spring market all but over, we're back to low inventory. This April/ May, however, we saw a bump in inventory. The San Mateo county city of San Carlos for instance saw 18 listings come on the market in only ONE WEEK! The market quickly reacted with buyers snatching up these properties at a brisk pace.
Inventory has leveled off though with the anticipation of our summer season. If you've been waiting for prices to fall due to rising rates, it's not going to happen. We've seen prices pull back and houses are selling for similar prices that we saw in 2021. However, we have the highest interest rates that we've seen in five years, and the market has not collapsed like many believed it would. If you're considering selling, and moving into a larger home, now is a good time, you should be able to refinance into a better rate in a few years.
If your equity is tied up in your primary residence, call me as we have opportunities you can take advantage of through our "Homelight buy before you sell program"! Call for details!
Read the full San Mateo County Market Report
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