Here's what real estate agents in the East Bay and North Bay have been noticing with buyers in September.
This has not been a September for the Bay Area's residential real estate professionals to hang their proverbial hats on.
Meanwhile, Contra Costa County in general has seen active listings up 86% regionally year-over-year, but with fewer purchases, Linnette Edwards, co-founder and associate broker at Abio Properties in Lafayette, told me. "I have found that as the rate hikes incline, buyer motivation declines," she said."There are still a lot of buyers out there that are still getting pre-approved today. Buyers just have little motivation to buy."
Meanwhile in the North Bay, agents also told me they are seeing cautious buyers this September. In Marin County, bidding wars have all but disappeared since the spring, and, since April, the average sales-price-to-list-price percentage has dropped to 1% below list price.
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