Despite what Punxsutawney Phil says about six more weeks of winter, spring is in the air and February has traditionally been a strong start for the real estate market.
More people put their home on the market in spring and more people tend to start looking for a home in spring. Warmer weather, the end of a school year in sight, more inventory, the hope for a higher price as a seller, and better curb appeal with blooming spring flowers are just some of the reasons spring real estate markets are HOT.
The 2021 Real Estate Market Has Not Cooled Off
If you have been following the real estate market, you know that the housing market has been the strongest in years. In our January blog, How the Growing State of Uncertainty is Affecting the Real Estate Market and What this Might Mean to Home Buyers and Sellers, we shared why the real estate market is strong.
The Gamache Team had a busy year last year and is gearing up for another busy spring market. Record low mortgage rates, while a bit higher now than in December, are one of the main reasons people are moving. People can afford more or get a bigger home.
Other reasons to move include being able to live in a more suburban or rural area that is free from the pollution, overcrowding, and parking issues that large cities often have; choosing a home that offers more space to work, live, play, and workout; moving to be closer to friends and family for support; and moving to areas where kids can attend schools in person.
Also, with so many employees working remotely, they can leave the city life where their jobs are typically located to a home and neighborhood that fits their lifestyles better.
Alameda County Real Estate Market Reports
Here are the most up-to-date real estate market reports for single family homes in Alameda. (source: Altos Research 2/3/2021)
Spring Real Estate Advice from The Gamache Team
With the spring market kicking into high gear, The Gamache Team expects more inventory which also brings out more buyers. Competition has been fierce in this market to snatch homes up as soon as they hit the market, but for people looking to purchase a great home in the Tri-Valley area, it’s also important to look at homes that have been on the market longer than average. These sellers might be more eager to accept an offer equal to or a bit below asking price.
It’s also important to come prepared with an open mind to not get everything you want in a home and to have a loan approval letter in hand. The more attractive you are to a seller, the more likely your offer will be accepted. Price isn’t the only factor sellers consider when accepting an offer.
Considering a Move in the Tri-Valley? Contact The Gamache Team
With years of real estate experience under our belt, The Gamache Team has been helping Tri-Valley buyers and sellers for decades. Now more than ever, the home is more than just a home; it’s a place to work, learn, grow, gather, and play.
Today’s home represents a way of life. With these changing times, residents are realizing their needs may not be met in their current home situations, so they are turning to The Gamache Team to find them a home that better fits their needs.
If you are in the market to buy or sell a home, contact The Gamache Team.