Monday Market Update: California April 2022 Sales & Price Report [Infographic]

Summer is almost here and you know what that means – change. Hotter weather, more buyers and sellers looking to move as the school year draws to a close… and maybe even a vacation or two in the works for some.

Below you will find the latest infographic representing April 2022 housing market stats across the state. Note an increase in inventory – but still only 1/3 the supply of a balanced market. Nearly 73% of homes sold above asking price, while mortgage payments grew 36.8% on account of rising home prices & higher interest rates.

For a quick comparison, the median home price in San Mateo County in April was $2,250,000 (vs. $884,890 across the state) with just 1.1 months of inventory and the list price received over-asking at 114%.

While it is clear that serious buyers are still out in force in Silicon Valley, some agents are reporting fewer offers. This is likely due to some buyers getting priced out of the market, as well as an uptick in inventory creating more homes to choose from.

Note it is still heavily a seller’s market, but please be sure that your trusted team is setting appropriate expectations so that you can set yourself up for success on your terms. Two or three solid offers at or above asking is still a fantastic ROI. Many of us have been ‘spoiled’ so to speak by hearing tales of 20 offers or sales prices of half a million over-asking. But you can absolutely achieve success even if that isn’t your story. Getting where you want to be & what you need is always what matters most.

Focus on achieving your own personal goal – the rest is just noise!

Bobbi Decker
DRE#00607999

Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
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Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/