Our Q3 market report has arrived. While the housing market slowed during the third quarter the Bay Area real estate market fared better than most of the country. Insights for the quarter include; indicators of economic strength in the labor market amid a slowing housing market, sales totals drop from all-time record highs in the previous quarter (~15K to ~12K), demand remained strong particularly at the lower end of the market (~$1M) while signs of slowing demand in the higher end (over $3.5M). Higher mortgage rates and economic uncertainty has eased buyer competition, homes in the $2M-$3M range were selling in under two weeks earlier in the year, and by September were selling in nearly a month. Have questions or want to learn more, contact us anytime, we're here to help.
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