How sellers have changed over the past decade.

How sellers have changed over the past decade:
a Coldwell Banker Seller Survey - Nationwide.

According to a Coldwell Banker survey of home sellers, today's home seller is notably different than the seller of 10 years ago. The recession not only changed the housing market, but it also changed the way home sellers approach the sale of their home. The Coldwell Banker Seller Survey looks at approximately 1,500 home sellers and analyzes trends from before and through the recession, as well as the initial recovery years and today:

• 2014-2015 - Recent Years (Sellers Today)
• 2010-2013 - Initial Recovery Years
• 2008-2009 - Recession
• 2006-2007 - Pre-Recession
• 2005 and Earlier

Notably, since 2014, more than 1 in 4 home sellers in the US sold their home in less than two weeks.

  Those sellers are twice as likely to choose an offer based on emotion rather than money alone, compared to sellers in pre-recession years.  “There is a notable difference in seller psychology today compared to 10 years ago” says Budge Huskey, president and CEO of Coldwell Banker Real Estate.  “Home sellers often want to feel emotionally connected to the buyer.  These findings should give solace to buyers in highly competitive markets who may present a compelling story as to why they should be the next owners of the home”.   - hint:  think “the Bay Area housing market”…

You can see the whole survey on this Coldwell Banker article.

Thank you for reading,

Francis

Silicon Valley real estate

Trends: Local prices and graphs.
A worthy local non-profit to remember: Community Services Agency in Mountain View

Local ratio: sales price / list price.

For the 3 Cities of Palo Alto, Los Altos and Mountain View combined, this is what the ratio of the sales price over listing price looks like, for all houses listed after the 1st of the year 2012.
This graph shows this interesting ratio sliced by list price range.

One of the interesting bars is the one for prices over $5 million:  -- the luxury market has definitely picked up from the past 3 years.

In the price range of $200k to $400k, this is for a (unique) house that, after a price reduction, was listed at $390,000 and finally sold at $335,199 in Mountain View, along 101.
Curious about your specific neighborhood? Let me know!

Thanks for reading!
Francis

Silicon Valley Real Estate

useful links
Rates are super low right now! Mortgage rates