Published June 6, 2022

The Pickett Post - June 2022 Newsletter

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Written by Kevin Pickett

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THE PICKETT POST

June 2022 Newsletter

Market Update by the Numbers
Single Family Residential home in San Mateo County:
  • Average Sale Price was $2,710,382 (even with April)
  • Average Days on Market was 14 (up from 12 days in April)
  • Average Sale Price to List Price Ratio was 113% (even with April)

If you would like a current Market Update for a city not shown above, please contact Ops@PickettRealEstateGroup and we will provide you one!
 
What We Are Seeing in the Market
Interest rates have risen steadily since the beginning of the year. We are seeing a leveling off in prices, although we are still seeing an abundance of buyers still in the market for new homes.

We are also seeing that shorter term adjustable rate mortgages (i.e. 5/7/10 year ARM's) have more attractive interest rates than the 30 year fixed. Many of our lender partners are suggesting buyer's buy-down their interest rate which was not common during the low interest rates of 2020-21.

Real Estate as a long term investment is still very solid as we're continuing to see rents soar because of high inflation and consumer price index. 

If you have questions about what your home's value is worth, contact us for a complimentary Comparative Market Analysis. 
 
May 2022 Client Successes
3 Bed | 2 Baths | 1,330 SqFt. | 7,500 SqFt Lot

Amazing Fixer-Upper potential to reimagine this home!

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

Fun News
Kevin kicked off his Endless Summer with a surf trip down at Playgrounds Surf Camp in Veracruz de Acayo, Nicaragua. ??????????? It was a week of epic waves and a great group of guys!

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Caitlin and Richie took Grace up to the Russian River for her first camping trip at Schoolhouse Canyon Park. Super charming campsite if you're looking for a fun weekend getaway!

Caitlin and Richie also celebrated his birthday with Top Gun: Maverick and dim sum at Palette Tea Garden in San Mateo. If you haven't seen the new Top Gun yet, stop what you're doing immediately and go watch it! 

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Who Do You Know That Is Looking to Buy or Sell? Call Us today!
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Our mailing address is:
16 E. 3rd Ave.
San Mateo, CA 94401

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