Bay Area Real Estate Updates

We are in the spring market, which is traditionally the busiest time of year in real estate.

Homes usually sell fastest in the spring, and across East Bay we are seeing average days on market in the 20s.

With spring underway, mortgage rates have dropped for the 7th week in a row. The weekly average interest rate for a 30 yr conforming loan was 6.63%.

Good news for Bay Area homeowners, homes are appreciating anywhere 20-60% depending on size.

The number of homes available this March is up 89% compared to  last year - which is also the highest level of inventory in the last 4 years.

For additional insights in your specific area, comment below! And if you’re looking to take advantage of buying or selling in this market, I’d love to connect.

Lauren Peterson

DRE #02235046

lauren.peterson@compass.com