Each county is ranked by the percentage of active listings going into contract, in these examples, in June/July 2020. This standard statisic of "Market Heat" compares the booming market of today to the same period of last year and then rates the scale of the year-over-year change.
Diablo Valley is now very high in the "Market Heat" rankings as measured by this gauge, with a market substantially stronger than at this time last year.
Although it's easy to draw conclusions that the spike of inventory/speed of transactions is a "catch up" from the dramatic slow down in spring, the title of Substantially Hotter is not something to ignore, especially if you're considering a move.
Here, you see the significant difference between the traditional peak in spring sales (March-May) between 2019 +2020 due to the COVID 19 shake up (left chart). But, you also see an incredible spike, beginning in May/June, currently exceeding projections and traditional sales trajectories.
And, with the median dollar per square foot staying consistent, the increase in sales does not indicate pricing weaknesses or panic selling. Even compared to previous valleys attributed to the 2008 recession, the Median House Sales Price per year has outpaced previous market trends.
So what does this mean to you?
5. WORK WITH AN EXPERT!
The Burgess Team knows the neighborhood, appreciates the uniqueness of this market and most importantly, has navigated extreme trends like the ones we're seeing now, before. We can help you design the best real estate strategy for your family and your future.
Give us a call to chat about your options!
Patient, supportive and action-oriented, we strive to navigate the business side of the purchase or sale of a home with an unmatched level of perseverance, care, and a creative marketing approach.Contact Us