San Francisco Bay Area Market September 2020 Update
We are set to expect a warmer than normal winter for the real estate market. Traditionally, real estate activities in the November, December and January months are about 1/4 of the normal months. This year is different. Based on the September and the other forward looking indicator, we expecting the winter months to have 50%-60% more listings than previous year. If you are in the market this winter, you will have more inventory to choose from. Okay. that’s the supply side of the story.
On the demand side, we also expect few people are traveling with fewer holiday activities to do, unless you count Zoom meeting as holiday activities. What would these people do? Chances are, if they thought about buying a home, they would also go out to look at properties. For home buyers look for winter deals, I’m afraid you will notice more buyer competition than 2019 winter. Price-wise, we will probably see 13-18% price increase compare to 2019.