The Bay Area housing market this summer was actually quite slow compared to previous years. Summer months are typically booming for the housing market so this was most definitely not what people, especially those working in real estate had anticipated, especially with such a solid Fall and Spring. For the Bay Area specifically, affordability concerns are what kept a lid on sales. Homebuyers have been fatigued by the past few years of bidding wars, no contingency offers and overpaying for properties. This has been the reality lately and buyers decided to take a step back and re-evaluate the market, especially with the elections around the corner. With that all being said, since Summer ended and we entered the Fall housing market, things have finally taken a more positive turn. And even with the recent elections, things are expected to move steadily in the coming year.
Below are October numbers for Walnut Creek: