You may have been hearing Realtors talk about a shifting housing market here in California and across the nation. What you’ve heard is true…Even on the Monterey Peninsula!
After seven years of home value appreciation, the local seller’s market is shifting toward a buyer’s market. If you’ve been trying to buy a home in the past in the cities of Monterey, Pebble Beach, Carmel, Pacific Grove, Carmel Valley, Seaside, Marina and even the Hwy 68 Corridor, you may have noticed that there’s been low inventory available and that new homes are being sold almost instantly.
However, in all of these local markets, this inventory is beginning to build up. For the first time in a while, serious sellers are having to lower their prices in order to attract buyers.
Buyers now have more choices with inventory and can find homes with more reasonable prices. Thanks to the market shift, it’s a great time to begin making offers on properties.
A market shift brings a lot of new decisions to the table, so if you’ve been uncertain about what you should do in your situation as a buyer or seller, reach out to us. We can give you specific information about our local markets and help you make an informed decision in real estate, as well as answer any questions you may have. We look forward to hearing from you soon.