There's both good and bad news on the horizon for buyers who want to live in the Evergreen area.
First, the good news, while prices are still rising, they're not rising AS MUCH as they did in the summer time. Although that still doesn't mean that this is a "buyer's market" or that homes are selling for less than the listing price in the most desirable areas of Evergreen, it does mean that the days of sellers receiving as much as 40 percent over the asking price are gone. We are still seeing sales prices that are "over" the list prices, but I also see that prices have adjusted in all areas to more correctly the market so that pricing is much closer to what buyers are willing to pay.
Another tiny bit of good news, the number of buyers around this time of year are slightly less than during the peak home buying season (from March to August). So while I was one of 35 offers on a home in Evergreen back in June, the number of offers has dwindled to the low double digits on the best homes and to under 10 for other homes. While that means there is still competition, the smaller number of buyers is less likely to engender the all out bidding wars that seemed to plague the market several months ago.
Now the bad news, I know so many are predicting that the home prices are going to drop drastically in 2014. So far, the indications from the housing industry are that it is unlikely to come true. We still have a very tight housing market with little new inventory from which to draw as replacement housing for those moving up or down in the market. This means that we are likely to--even with higher interest rates--see pretty stiff competition for homes in the Spring.
So if you're interested in buying, I would not necessarily stop looking just because its the holidays. In fact, keep looking and use your Realtor to help you find a great home!
Allison James Estates & Homes
Discount Agent with 50 percent Rebates to Buyers and Low Cost Listings for Sellers!
Tel (408) 426-1616
The average Evergreen home price is just about $900k but the average price has not reached the 2007 peak. If you look at
Scroll down to the third plot you will see that Evergreen neighborhood homes on average began selling over list price in 2012 but the trend wasn't all that strong. My neighborhood plots are done by quarter. The fourth quarter of 2013 only has data for October. which shows that most Evergreen homes have sold under list price and that on average they have sold not quite 2% under list price.
If you want to see details of Evergreen home sales you can view the information for zip code 95138 at
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