Published July 6, 2022

The Pickett Post - July 2022 Newsletter

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Written by Kevin Pickett

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THE PICKETT POST

July 2022 Newsletter

Market Update by the Numbers
A look back at June 2022...
 
Single Family Residential home in San Mateo County:
  • Average Sale Price was $2,531,445 (down 180k from May)
  • Average Days on Market was 14 (same as May)
  • Average Sale Price to List Price Ratio was 109% (down 4% from May)

If you would like a June Market Update for a city not shown above, please reply to this email and we will provide you one!
 
What We Are Seeing in the Market
After a long, bull market run in housing prices, we have seen a shift.

From May to June, we have seen a decrease in both the Average Sales Price, as well as a decrease in Average Sale to List Price.

Essentially this tells us there is less competition and this shift SCREAMS opportunity for buyers.

But wait...

What about rising interest rates you ask?

Great question. Here's the current Buyers Strategy:

Yes, rates are much higher than they were 2 months ago, however, house prices are less. The price a buyer pays for a home will never change, but the rate can. Therefore, lock in a home at a discounted price then refinance in the future when the rates inevitably fall. 

We cannot predict how long this current Buyer's opportunity will last. If you are interested in taking next steps in Real Estate, we'd love to help in your journey!
 
Client Success - June 2022
2 Bed | 2 Bath | 917 SqFt.

Quiet, Peaceful Condo in beautiful Redwood Shores!

Contact Kevin at (415) 283-7919 for additional details.

Fun News
What a win!

That's why they call him Kevin "The Steph Curry of Real Estate in the Bay Area Peninsula and Coastal Markets who fights for his clients and delivers results" Pickett.

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Caitlin had an amazing time singing the National Anthem at a San Francisco Giants game!

Always a blast getting out to Oracle Park!

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Kevin Pickett

Realtor | Pickett Real Estate | Christie's International Real Estate Sereno

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