What’s Happening in the Market – December 2019

December Update

Please note: this data is for November 2019

In November, the Federal Reserve reduced its benchmark rate for the third time this year. This action was widely anticipated by the market. Mortgage rates have remained steady this month and are still down more than 1 percent from last year at this time. Residential new construction activity continues to rise nationally. The U.S. Commerce Department reports that new housing permits rose 5% in October to a new 12-year high of 1.46 million units.

New Listings were down 35.8 percent for single family homes and 47.4 percent for Condo/TIC/Coop properties. Pending Sales increased 1.1 percent for single family homes and 3.2 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 13.4 percent to $1,619,000 for single family homes but decreased 1.1 percent to $1,180,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 24.0 percent for single family units and 7.1 percent for Condo/TIC/Coop units.

While many economic signs are quite strong, total household debt has been rising for twenty-one consecutive quarters and is now $1.3 trillion higher than the previous peak of $12.68 trillion in 2008. While delinquency rates remain low across most debt types (including mortgages), higher consumer debt loads can limit future household spending capability and increase risk if the economy slows down.

San Francisco Condo/TIC/Coop Activity Overview

District 9: Central East Activity Overview

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Sub-District 9 Statistics

Please call me any time for information about the neighborhood or current market conditions. My successful marketing plan has been raising property values over the years. Let’s make it work for you too. Read my testimonials:

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Museum Parc 2019 Annual Sales


The market is projected to be stable with a better opportunity for Buyers in 2020. If you are considering selling, please call me for a consultation to determine your best strategy!

SOLD for $2,700,000

CUPERTINO Single Family Home

Website: www.CupertinoGem.com

Features
Bedrooms: 5 | Bathrooms: 3 + .5 Bath downstairs
Square Footage: 3242 Lot Size: 17,416 sf (.4 acres)
Quiet Cul de Sac
Cupertino Schools

 

Museum Parc
300 3rd St #823

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Move In: Late December, 2019Description: 


Rent: $3500 / month
Bedrooms: 1 | Bathrooms: 1
In Unit Washer/Dryer | Secure Building
Parking Available: $315 / month