East Bay Real Estate: November's Numbers Tell it All

Thanks to my colleague, Glen Bell, at Better Homes & Gardens/Mason-McDuffie Real Estate, Berkeley Office, I am happy to share a comprehensive analysis of the East Bay real estate market.
Glen has been tracking 38 East Bay cities for years and reports back to us monthly. His work is one reason I and the other Realtors in my office are so well informed about the current state of affairs and the trends affecting home sales in Berkeley. This month's numbers are surprising on several counts:
1. Inventory is back down to an astonishingly low 30-days. Certainly, some of this is the "seasonality factor," but another contributing factor to the paucity of active listings is the disappearance of REO's (bank-owned, foreclosed properties) which now make up just 4% of the listings.
2. An increasing number of homes are sitting unsold, even after 30 days on market
3. More and more listings are undergoing price reductions
4. Multiple offers are becoming less common
Generally speaking, we are seeing a cooling off and a return to normalcy.

To read Glen's entire article, CLICK HERE

For more information, please contact:
Jeff Weissman, REALTOR®
510 - 303 - 5903
BHG/MM Real Estate
2011-2013 TOP PRODUCER
www.weissman-realestate.com
"Client Focused, Results Driven!"