The Gamache Team has been selling real estate for 50 years. Michael Gamache helped his grandfather and his father deliver marketing material “back in the day” long before blogs. Today, The Gamache Team has the ability to deliver our Real Estate Market Update to you in the comfort of your own home.
A Slight Shift in the Real Estate Market
Typically speaking, autumn usually indicates a slowdown in the real estate market; even with the robust market we have been experiencing, it appears the market is shifting and cooling off a bit.
In our experience, sellers are still enjoying high price tags for their homes, but are not receiving as many offers as they have in the past. Less inventory means buyers are competing for fewer homes and are still willing to offer at or above asking price in many situations.
Generally speaking, homes are sitting on the market longer than they have in the past, and The Gamache Team sites buyer fatigue, timing, an increase in mortgage rates and pricing as some of the reasons why.
What Does the Future of The Real Estate Mark Hold?
In doing our due diligence and from our many years of experience, The Gamache Team knows that “what goes up must come down.”
However, the Tri-Valley area continues to be a hot market, with its excellent location to snow and sunny beaches, the perfect combination of cold and warm weather, easy access to public transportation, and plethora of parks and recreation.
Add in the Tri-Valley’s award-winning schools and opportunity for homeowners to own more land than other areas, and you have the perfect combination.
Government Actions May Cause an Influx of More Homes on the Market
Now that the moratorium has been lifted for renters, landlords who were still responsible for mortgage payments, property taxes, and insurance may be forced to sell their homes.
The increase in lumber and supplies and the inaccessibility of cargo shipments to be delivered on a timely basis also affects the speed in which new homes can be built.
The unemployment rate, end of unemployment and stimulus help, and the mass exodus out of California will also create a shift in the market.
New zoning laws, vaccine status, and overall quality of life will also have an impact on the number of residents who want to move to the Tri-Valley and the number who want to leave.
Summary of the Livermore Housing Market for the Past 90 Days
The Gamache Team specializes in the Livermore market. Here are Livermore Housing Market data that you might find useful if you are considering a move to or from the Livermore area. Data is from the last 90 days.
Contact The Gamache Team for Your Real Estate Needs
Whether you are thinking of buying or selling, The Gamache Team has experience in all facets of real estate and can help you with your real estate needs.
If you are curious about your home value, please contact us for a no pressure consultation. We can be reached at (925) 918-0332.