Field Notes from a Realtor

June 2020 South Bay / Peninsula Real Estate Market Update

Welcome to our June newsletter. This month, we’ll continue to update you with important information about your local real estate market. First, we will cover new survey data from the California Association of Realtors (CAR) that shows buyers and sellers are operating under differing expectations about the real estate market. Following that, we will review the local market. Although 2020 is proving to be unique, we hope to provide you with an encouraging analysis of May’s housing data as well as an overview of our expectations moving forward as we phase out of the strict stay-at-home orders.

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Bay Area Real Estate Analysis: Real Estate Terms Defined

There are several key statistics that are used to determine the health of any real estate market – average days on market, month’s supply of inventory, sales absorption rate, and the median sales price. Days on market (DOM) describes how long a home is active on the market before its status changes to pending.  The average days on market is determined by adding each listing’s days on market in a month, then dividing by the number of active listings for sale at the end of that month.

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