August 2021 and the appreciation continues. Average sales prices in Danville and Pleasanton exceed $2 million. Livermore is the most “affordable” at $1.2 million. I see headwinds on the horizon. Buyer burnout is happening. Fewer offers on each home, slight increase in days on market. Still early stages but bubbles don’t burst, they tend to deflate slowly.

 

Average Sales price in Danville are up over $500,000 from August 2020 to August 2021. This type of price appreciation is not sustainable, and with only 23% able to afford the “median” priced home in this area despite the low interest rates, declining affordability is never good for the economy……I’ve been in this kind of market before….declining affordability, massive price spikes…..remember 2008? I suggest that buyers buying today should plan to keep your homes at least 10 years. The last peak in 2006 it took 10 years until 2016 in the East Bay for prices to catch up to 2006 levels.

 

Seniors looking to sell, now is an amazing time to get top dollar and maximize equity. Let me show you how.

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