159: 2024 Market Update: Navigating Turbulence in Unstable Real Estate

Feb 27

Written By Amanda Holland

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2024 Buyers and Sellers….

Join us for a deep dive into the current state of the market in 2024, where uncertainty seems to be the norm nowadays. In this episode, we discuss the ongoing shifts, while it remains predominantly a sellers' market, the dynamics are continuously evolving. We explore the factors influencing these fluctuations, including the persistent trend of people leaving California. Amidst these changes, the importance of seeking guidance from real estate professionals becomes paramount for making informed decisions. Tune in for insights and strategies on navigating these turbulent times in real estate.

Some KEY points:
Median sales price

March 2020 663,500- April 2022 - 995,000
Roughly a $300,030 - gain! …WOW

Now looking at Feb 2023 -> median price was $799,900 —> interest rates are at their highs
Moving to Summer 2023- 946,500 -> to now $856,000

This just means: We are In line with January 2022

According to these stats: It took 2 years to be back in order and considered a normal and to what people might think would be reasonable.
We most likely won’t go back to those numbers Pre- CoVID which were: roughly $663,500

A few MORE KEY POINTS:

-Every neighborhood is hyper local.

***Hire an agent that understands the stats and can help consult you to the right opportunity that is right for you***

We have said this before but you NEED to find an agent that helps you move forward. You NEED to find someone who understands the market.

What do we do in an unstable market?? Well…

Tune IN to our conversation to hear more!

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