April 24, 2021
The luxury home market is sensitive to economic conditions, such as the stock market, which peaked in 2015, 2018, early 2020, and early 2021. And, of course, the pandemic was a huge factor in the market, starting in spring 2020.
April 8, 2021
Q1 is typically a slow quarter, its sales and sales prices mostly reflecting activity during the midwinter holiday “doldrums,” as the market gradually wakes up in the new year. But there was little in the way of doldrums this winter and the first quarter quickly accelerated into a very competitive, high demand/low supply market.
March 8, 2021
At the beginning of the new year, it is not unusual for buyers (demand) to jump back in much sooner than sellers (supply),a dynamic which commonly accelerates as spring gets underway. When demand surges while listings lag behind, buyers must increasingly compete, often heatedly, for appealing homes. This imbalance in supply and demand adds considerable pressure to the market, with overbidding and price increases becoming common. This has occurred with a vengeance in early 2021.
February 28, 2021
Strong Finish to 2020 & Heated Start to 2021
January 31, 2021
January 25, 2021
Many factors affect home values: quality of location within the market area, architectural style and curb appeal, square footage, condition, views, amenities, extra rooms, parking, decks and yards, privacy, lot size, demographics, environmental factors, and so on. There is usually a wide or even vast variety of homes within market areas, especially larger ones.
January 19, 2021
Market indicators are often seasonal in nature, with Q2 typically behind the period of highest demand, and the mid-winter holiday period being the period of lowest activity. The pandemic gravely affected early Q2 market activity, but a dramatic rebound occurred in the months that followed.
January 18, 2021
Pandemic, shelter in place, mass unemployment, terrible financial hardship for many residents and small businesses, new ways of working, office buildings empty out, people move, dreadful fires, an anxious presidential election interest rates drop to historic low, IPO mania breaks out once again, stock markets reach new highs, vaccines begin to arrive - and the real estate market went into hyper-drive, with the median home sales prices hitting new peaks. The luxury home market in particular was extremely strong. 2020: a year of extremes.
December 30, 2020
Now that the election’s over, we’ve been getting a lot of questions about Proposition 19 and who it benefits. Basically, Prop 19 makes it easier for homeowners 55 or older to move to another home statewide and keep the taxable value (tax basis) of their original home. Under the old law, you could only move that basis between two counties that had opted in to the law – and you could only do it once. Under Prop 19, you can move the basis anywhere in the state, and do it three times.