"Though home sales throughout the Bay Area slowed this summer, prices remain stubbornly high. New data from the California Association of Realtors shows that home sales across the nine-county Bay Area in July declined 4% from last year, while the median sales price stayed flat, at $1.3 million. The median price was $862,500 in Contra Costa County, $1.25 million in Alameda County, $1.6 million in San Francisco, $1.9 million in Santa Clara County, and $2.1 million in San Mateo County."
"You definitely don't want to just throw a house on the market right now the most important thing is to make it look turn-key, said Tesch, a former real estate agent herself. The buyer has to feel like they're not going to do anything. In just one weekend of open houses, Tesch got three offers. The home sold over asking. Sellers who try to price high may be stuck with a home that sits on the market, agents say."
Home sales across the nine-county Bay Area declined 4% in July while the regional median sales price held at $1.3 million. County medians ranged from $862,500 in Contra Costa to $2.1 million in San Mateo. The market has softened without dramatic price reductions because buyer demand still outpaces available homes, and desirable neighborhoods continue to attract multiple offers. Staging and pricing strategies influenced outcomes; one staged townhouse received three offers and sold over asking. Inventory rose 26% regionally and 64% in Alameda County, and median days on market increased from 16 to 24 days.
Read at www.mercurynews.com
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