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Real-estate market is tilting towards buyers' benefit

Real-estate market is tilting towards buyers' benefit in San Jose-Sunnyvale-Santa Clara metro area

  • Are you sitting on the sidelines and losing out on opportunity to snag value purchases in real-estate?
  • Are you waiting for the interest rates to come down?
  • Are you actually losing out on opportunity to buy real estate at a better deal?
If you have these questions, check out the below trends available for July 2024. The following review is for San Jose, Sunnyvale, Santa Clara CA metro area. But you can review the trends for your metro area of interest.

Median Listing Price is declining

The listing price being lower, you can find some great deals from distressed sellers who are motivated to sell at a discounted price.



Active Listings are increasing

Increase in active listings allows for higher options to select from. The higher active listings are also driven by less competition from other buyers. The higher interest rates are making people wait on the sidelines. But a savvy buyer can instead take the benefit of this situation for a longer term return on investment.


Median Days on Market is increasing

The houses staying on the market is indicative of slowing demand.

  • So if you are sitting on the sidelines, you might be losing out on opportunity to snag value purchases in real-estate, that will generate higher equity
  • While the interest rates are high, the prices are less competitive. You can leverage the fact that banks are wanting to lend money and you can negotiate rates and discounts for your mortgage. As well as some lenders are offering no-origination fee if you refinance within three years. So you can still take the benefit of lower rates, if that happens.
  • So you might not want to miss out on opportunity to buy real estate at a better deal.
If you would like to explore buying homes and making it a great investment, reach out to me and I would love to guide you through the process.

To review these charts you can visit: https://www.vishalkarnik.com and make selections for your metro area and the metric of interest.

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