Autumn Market Begins with Lowest Interest Rates Since Spring 2023
As we move into the autumn season, the real estate market in The Diablo Valley is beginning to pick up momentum, with some of the lowest interest rates we've seen since spring 2023. After a relatively steady August, things are starting to shift. Interest rates have dropped, and many are anticipating that the Federal Reserve's recent rate cut will further improve housing affordability. Buyers and sellers alike are feeling a sense of optimism, with predictions of increasing demand, especially from first-time homebuyers. While tight inventory remains a challenge, we expect to see a steady rise in home sales throughout the rest of the year.
If you've been considering buying or selling, now is a great time to explore your options and take advantage of these favorable market conditions. Reach out today, and let's chat about how we can help you navigate this exciting market!
Report created in good faith with data from sources deemed reliable but may contain errors and subject to revision. Statistics can be affected by a variety of factors and are best considered indicators of change rather than exact measurements. All numbers are approximate and may change with late-reported activity. Economic indicators can be volatile.
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Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multicounty metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate.
Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis.
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.