Rising Price Reductions, Winning the Beauty Contest, and Luxury Homes in our Market

Our summer days and market slowdown are slipping away. We’re excited to step into the new season with you all soon!

As the autumn season approaches, we are seeing an increase in buyer interest, a decline in competition, price reductions (on properties priced too high, not updated, etc.), an increase in inventory and days on market, and the continuation of [some] homes selling over the asking price. Selling a home over list price is a function of pricing. If you price your home below where it should sell, you may see multiple offers. This tactic can be risky in today’s market given all of the parameters we have going on at that same time. Mortgage rates have also since fallen below 5%, which may influence buyer interest and demand in the coming months. Pricing correctly out of the gate and winning the beauty contest makes Sellers win in today’s market!

With price reductions on the rise coupled with increasing inventory levels, now may be the perfect time for our Buyers to look into homes! Silicon Valley has on several occasions been ranked one of the top luxury real estate markets. Silicon Valley has several selling points for luxury real estate, from breath-taking views to landscapes of nature. This month, we at Silicon Valley and Beyond have curated a guide to Silicon Valley luxury real estate and several places you can buy luxury homes. Check out the full blog at SVAB365.

As always, if you have any questions about this month’s market conditions, or buying or selling a home, please don’t hesitate to reach out to us. Our team at Silicon Valley and Beyond often helps our clients plan 2+ years out. Please do not ever think that contacting us is too early in the process. We handle everything—including planning moves!

We are updating our Vendor Directory that we’ve published in the past. Please let us know if you have 1, 2, or more small businesses with whom you love working. Just reply back to this newsletter and we will be happy to add your recommendation! Once we’re done with our newest edition, we will be sending out the new and improved Vendor Directory this fall.

Let us know if you’d like to chat about what we are seeing in the current marketplace. Book a 15-minute call with Dawn here.

Here’s to creating a better future,