In an email today, Guy Rivera at Guarantee Mortgage said "One thing is for sure - a Fed rate cut is coming". The soft jobs report increased the probability of a Fed rate cut in July to 78%. By year end there is a 99% chance the Fed Funds Rate will be lower than current levels. What does it mean? Well - first off, Stocks love rate cuts and continue to rally this week on the notion the Fed will cut. If money flows aggressively into Stocks it could be at the expense of Bonds". Also, he included the weekend ending rate sheet. Check that out by clicking here.
Summary Stats Month to Date
- Total units sold 19
- Most were not doubled ended (listing agent and buyer agent were not the same)
- 33 new listings during that period
- Average sold price was $802,680
Sold Market Analysis Year to Date
- Condo number of active listings has increased by 13%
- Condo number of days on market for active listings decreased by 33%
- Condo number sold increased by 77%
- Condo sold total volume increased by 81%
- Condo average sale price increased by 2%
- Condo median sale price increased by 12%
- Condo sale price percentage of list price increased by 1%
- Condo days needed to close escrow are down by 15%
- Condo number of days on market for sold listings decreased by 35%
- SFR number of active listings have decreased 16%
- SFR number of days on market for active listings decreased by 31%
- SFR number of properties sold decreased by 19%
- SFR sold total volume decreased by 21%
- SFR average sale price decreased by 2%
- SFR median sale price decreased by 4%
- SFR sale price percentage of list price decreased by by 1%
- SFR days needed to close escrow increased by 4%
- SFR number of days on market for sold listings increased by 4%
As most of us in the business have noticed, we just don't have as many listings to sell. That notion is supported by the numbers above, especially in the SFR category where number of listings is down. Its awesome that people move here and never want to leave again but more inventory would be nice! Nina and I are definitely available to take new listings and deliver excellent service while managing them from beginning to end.
New Listing (1)
2856 Santa Barbara Avenue, Los Olivos (3/2 main house plus 1/1 guest house on 1+ acre) $1,329,000 Sharon: Super cute, well maintained and within easy walking distance to all the cool stuff in the village. Few properties in LO in this price range have guest houses so take note if that element is on your must have list.Nina: Conveniently located 3 bed, 2 bath Los Olivos home on just over an acre. Very nice updates throughout and low maintenance landscaping.
Under Contract (1)
1483 Calzada Avenue, Santa Ynez (3/3 on .82 of an acre) 879K Nina: I see potential here! I'm excited to see how this one unfolds.
**Click on each hyperlink to see the listing office related to each property. Property links may not open if you are using Internet Explorer as your browser. Transactions noted here were completed by myself and other Realtors. I clearly identify those that I participated in. The hyperlink to each listing shows the listing office name if you would like to contact them directly. If you aren't already, please ask to be on my Daily Real Estate Update email list to receive the complete blog post with pics and aerials sent to you daily via email versus you having to remember to check my website or Facebook. Due to recent copyright issues, pics only appear on the email version. The identity of those on my list is not shared and I don't spam anyone. My daily updates are not a complete list of everything that happened today but instead events the general reader might find interesting or items you need to know to make good decisions. These informational items are also readily available on a variety of other sites. Readers should consult other venues of information gathering to find out more or to complete their information gathering efforts but this is a great place to start and I write every day Monday through Friday letting you know what I know. I will NEVER send you a request to wire money. If you ever receive a request from me to wire money, it is a scam. Do not reply to it but do forward it to me at firstname.lastname@example.org for further investigation by our company tech staff. Real estate related wire fraud is rampant worldwide.
Sharon Currie Realtor License #01357602 805.448.2727 email@example.com
Nina Stormo Realtor License #01341678 805.729.4754 firstname.lastname@example.org
Berkshire Hathaway Home Services BRE#01317331
Physical: 2933 San Marcos Ave #102, Los Olivos
Mailing: P O Box 778 Los Olivos CA 93441
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