June 2022

What we are seeing in the news today is what I've been reporting for months. In Alameda, home sales are down month over month, prices are down month over month and year over year. It's taking longer to sell, prices are being reduced and some houses aren't selling at all now. Some houses aren't appraising at the sale price either. The best houses still sell due to a lack of inventory, but houses that aren't updated or staged could find themselves with a lack of prospects. The outlook for the rest of 2022 is not red hot. The market is less of a seller's market. Buyers are avoiding bidding wars and Sellers are shocked when their house receives only one low offer instead of ten high ones. It's time for everyone to reset their expectations as to what houses are worth. 

Please remember, the list price is often set very low to attract more buyers to the house. The list price is not indicative of what the seller will accept.