July 2023 Market Report | Sarah Parsons by Procasa Technologies, Inc

SF BAY AREA AND SILICON VALLEY

Atherton

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Belmont

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Burlingame

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Foster City

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Hillsborough

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Menlo Park

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Palo Alto

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Portola Valley

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Redwood City

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San Carlos

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A local Bay Area Pioneer- Sarah is the 5th Generation in San Mateo County She began her career over 30 years ago as the owner and operator of her own real estate company Then went onto opening two Century 21 franchises, followed by opening a RE/MAX franchise.

She earned the prestigious “Centurion” and “Platinum” top producer awards. Both of these awards acknowledge Sarah’s accomplishments that lead her to ranking in the top 1% of Sales Professionals Nationwide

In addition to her vast real estate experience, and successfully closing over 575 sales in her career she also has background and experience in interior design, construction and remodeling. Sarah has built 2 custom luxury homes, as well as...

Each office is independently owned and operated ABOUT

SARAH PARSONS KW Peninsula Estates DRE #01312901 (650) 898-4863 sarahparsons@realtor com www.sarahparsons.biz “Persistence in Spite of All Obstacles Equals Success!” Check out my website here 1430 Howard Ave , Burlingame, CA. 94010

PROUDLY

SERVING THE SF BAY AREA AND SILICON VALLEY

Client Testimonials

Sarah advised us on what truly needed to be done to get the most 'bang' for our dollar. She sold our house in 13 days, with 4 bids all over asking price. It closed in 21 days and we were super happy with her skills to accomplish this in such a short period of time Our house sold for $116,000 Over the last sale in our neighborhood, on the market for only 14 days, Closed escrow in 21 days!

- Jim & Margaret M

Thank you so much for making a 20 year dream of mine come true! When I tell people that we found our home, put in a bid and the bid was accepted (in one day)

UNDER ASKING PRICE all they could say was ”WOW, in this market, I can’t believe it. Truly I don’t think I could have done this without your support, you had some amazing tricks up your sleeve! Glad you were referred to us!”

-Laura and David

What a pleasure it has been working with you in the sale of our home. We had been listed with another brokerage with no results but were pleasantly surprised at how efficient your system was You made the entire process seem so easy compared to what we previously experienced! We thank you and your team! Please stay in touch with us.

- Stan and Eve

For more testimonials, click here

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I am dedicated to maintaining a long-term business relationship with you, as evidenced by my past work Please contact me when you're ready to move forward with your next purchase or sale, and let's discuss how to make it happen Schedule

Book a consultation here Let’s Talk Sarah Parsons (650) 898-4863 sarahparsons@realtor.com Let’s Meet 1430 Howard Ave., Burlingame, CA 94010

A Meeting Work with Sarah Parsons

I can help... Contact me for a confidential, no obligation assessment of your home's value. That's really the question you should be asking yourself Our market is incredibly diverse, and rapidly changing. Values vary not just by neighborhood, but by street Your home isn't necessarily worth what your neighbors’ home is. At the end of the day, it’s the current market that sets the value of your home So, do you know what your home is worth in today's market? What’s your home really worth in today’s market? SARAH PARSONS KW Peninsula Estates DRE #01312901 (650) 898-4863 sarahparsons@realtor.com 1430 Howard Ave , Burlingame, CA 94010

Two Questions To Ask Yourself if You’re Considering Buying a Home

If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot.

To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision:

1 Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists

According to the latest release, the experts surveyed are projecting slight depreciation this year (see the red in the graph below) But here’s the context you need most The worst home price declines are already behind us, and prices are actually appreciating again in many markets. Not to mention, the small 0.37% depreciation HPES is showing for 2023 is far from the crash some people originally said would happen.

Now, let’s look to the future The green in the graph below shows prices have turned a corner and are expected to appreciate in 2024 and beyond. After this year, the HPES is forecasting home price appreciation returning to more normal levels for the next several years.

So, why does this matter to you? It means your home will likely grow in value and you should gain home equity in the years ahead, but only if you buy now If you wait, based on these forecasts, the home will only cost you more later on.

2. Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates have risen in response to economic uncertainty, inflation, and more We know based on the latest reports that inflation, while still high, has moderated from its peak. This is an encouraging sign for the market and for mortgage rates. Here’s why.

When inflation cools, mortgage rates generally fall in response. This may be why some experts are saying mortgage rates will pull back slightly over the next few quarters and settle somewhere around roughly 5.5 and 6% on average.

But, not even the experts can say with absolute certainty where mortgage rates will be next year, or even next month. That’s because there are so many factors that can impact what happens. So, to give you a lens into the various possible outcomes, here’s what you should consider:

If you buy now and mortgage rates don’t change: You made a good move since home prices are projected to grow with time, so at least you beat rising prices.

If you buy now and mortgage rates fall (as projected): You probably still made a good decision because you got the house before home prices appreciated more And, you can always refinance your home later on if rates are lower.

If you buy now and mortgage rates rise: If this happens, you made a great decision because you bought before both the price of the home and the mortgage rate went up.

Source: Keeping Current Matters

Atherto

What's in the A data?

In June, Atherton had 3 homes for sale, providin only 4.7 months of inve new listings added, and median sale price for si was $7.3m, with a med The average time on th family homes was 104 d

On the other hand, the Atherton has a much s only 1 unit for sale. In Ju added, but no condos w median sale price for c unavailable as there we no median overbid per

le-Family Homes

12 months, year-over-year.

dos & Townhomes

12 months, year-over-year

Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 E 2022 - JUNE 2023

therton

STINGS FOR SALE SOLD LISTINGS

Median Sales Price

Single-Family Homes

The median sales price has decreased from $75m last June 2022, to $73m as of June 2023

Condos & Townhomes

The median sales price has decreased from $841k last June 2022, to $0 as of June 2023.

AVG Days On the Market

Single-Family Homes

The average time spent on the market went up from 11 days last June 2022, to 104 days as of June 2023

Condos & Townhomes

The average time spent on the market went down from 12 days in June 2022, to 0 days as of June 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 98.8% last June 2022, to 907% a year later

Condos & Townhomes

The overbid percentage has decreased from 101.9% last June 2022, to 0% a year later.

Back to Table of Contents Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022Jan2023Feb2023Mar2023Apr2023May2023Jun2023 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125 100 75 50 25 0 Jun2022 Jul2022Aug2022Sep2022Oct2022Nov2022Dec2022 Jan2023Feb2023Mar2023Apr2023May2023 Jun2023 125% 100% 75% 50% 25% 0%

Belmont

What's in the Belmont data?

In June, Belmont had 24 single-family homes for sale, providing the market with only 1.3 months of inventory. There were 11 new listings added, and 15 homes sold. The median sale price for single-family homes was $2.2m, with a median overbid of 100.4% The average time on the market for singlefamily homes was 17 days.

On the other hand, the condo market in Belmont has a much smaller inventory, with only 4 units for sale. In June, 3 new listings were added, and 1 condo was sold. The median sale price for condos was $550k. Th median overbid percentage for June was 110.2%. The average time on the market was 26 days.

SFH ingle-Family Homes

1 ew Listings

15 Sold Listings

.3 onths of Inventory

$2.2M Median Sale Price

00.4% edian Sale vs List

17 Avg Days on Market

data, sourced from InfoSparks and Broker Metrics, includes all singleily homes, condos and townhomes in the California Area above from June 2 to June 2023 This may include preliminary data, and may vary from the e the data was gathered All data is deemed reliable but not guaranteed E# 01511642 Copyright KW Advisors San Francisco | Napa Valley 2023 Each ce is independently owned and operated

3 New Listings

1 Sold Listings

3 Months of Inventory

$550K Median Sale Price

110.2% Median Sale vs List

26 Avg Days on Market

CONDO Condo & Townhomes

Single-Family Homes

Last 12 months, year-over-year.

Condos & Townhomes

Last 12 months, year-over-year

Belmont Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 60 40 20 0 Jun2022 Jul2022 Aug2022 Sep2022 Oct2022 Nov2022 Dec2022 Jan2023 Feb2023 Mar2023 Apr2023 May2023 Jun2023 15 10 5 0 JUNE 2022 - JUNE 2023

LISTINGS FOR SALE SOLD LISTINGS