Household Migration Patterns
It's always interesting to see where others are moving relative to where you live. For those of us who live in California, we sometimes hear that their is a mass exodus to other states, but if you look at the charts below, you will see California is "balanced" with inbound and outbound.
From a real estate perspective, this means that Sellers are balanced with Buyers so the net/net is there should be a demand for both sides of the sales transaction. The biggest issue is that the number of homes for sale (inventory) is tight so the prices are higher due to lower availability of homes for sale.
- For Sellers - you may be able to get more for your home in this market since the demand is high but the number of homes for sale is lower. To make sure you get the best value in the sale of your home, you will need an experienced agent that help set the right market price to optimize your gain in a reasonable amount of time.
- For Buyers - you will be facing higher prices and more competition as you make offers so you will need to be fully approved for funding and have an experienced agent helping you make the winning presentation.
If you are interested in learning more about the local real estate market in the SF East Bay, give us a call. We'll be glad to discuss the market, your home and your timelines for Selling or Buying.