The market continues to be abnormally brisk deep into fall this year, which is a good thing.
The number of active and pending listings in Santa Clara County is remaining at what seems to be a higher number. There are still a lot of buyers looking, which is why the number of pending listings is higher than the number of active listings. If you see a house for sale, and it is staying on the market a long time, it is overpriced. Otherwise, everything is moving.
The number of home sales in the Bay Area this September was the highest in a decade. In the state, September sales rose 5.2% from August, and were up 21.2% from a year ago. (Thank you to CAR, the California Association of Realtors for the stats.)
Lastly, please remember to VOTE on the California propositions. I am putting in a plug here for a YES vote on 19. It will help more homeowners over the age of 55 to sell their homes and move to other parts of California.
Currently they can sell and take their current property tax with them to a new property in a limited number of counties in the state. So many people who need or want to move are not moving. They want to move to other counties. The property tax on the new home may be too expensive for someone on a fixed income. Proposition 19 changes the law to allow 3 moves, instead of once, and it allows a move into any part of California.
This is also good news for the local tax rolls. When a buyer purchases the senior's home, he pays the new higher tax rate, a win-win, that is a new home for someone and new local tax money.
Be sure to read the whole proposition. There is more to it. Overall, it helps people to move, and it will make more houses available to buyers who are now in this low-inventory market.
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