Uh oh…
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Isn’t that a good thing?
Bay Area numbers:
the number of single-family homes and condos that traded hands across the greater Bay Area increased a seasonally driven 13.7 percent from March to April, total sales (6,987) were down 7.6 percent on a year-over-year basis.
SF sales up 5.1% YoY. Alameda down 6.2%. San Mateo up 0.2%. Santa Clara down HUGE 14.5%.
SF and SM are these IPO buyers? SCC sales is tanking big time.
This is big, but also need to dig into the inventory data. Sales could be down coz less home to buy.
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I can see my Cupertino house sitting now for over 2 weeks and no offers.
We had an offer deadline, and the deadline passed. Price per sqft of recent sales is disappointing unless the house is smaller (1400-1700 sqft).
For houses over 2000 sqft, I see the adjustment in Cupertino to be closer to 20%.
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I didn’t see much change. Price stagnant at 10% below peak.
A newer (less than 4 years old) townhouse in 94086 or 94087, ~1600 sqft, would sell for $1.6m+ a year ago. Now they’re closing for under $1.4m. If you’re willing to buy something from the 1990s, it’s only $1.2m. That’s a 15% discount since summer 2018.
I already regret not listing my Cup house last year. I had waited to spread out the cap gains over multiple years. I guess I’m going to save on taxes, just not the way I had intended.
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Don’t you think 5 years from now it’ll be higher than this year though?
Yeah… I have the same Qn 
Between 2019-2024, BTC will appreciate more than a SFR in Cupertino.
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Sell all rentals and Go all into BTC 
Then why are you buying properties instead of BTC?
I am thinking of selling a house and exchange the proceeds to BTC instead 
It’s probably safest to wait for confirmation of a bull market, which is when the price has passed the previous ATH
Not sure if it can surpass the ATH, I’m hoping it can hit ATH and then sell
Yea, I see market like Milpitas (1M-1.2M) quite strong (15 or so offers in last couple of house got pending in past 2 weeks) and same for Daly City. But prices above 2M is slowed significantly in last few weeks (there were 3 homes in Los Altos < 2.5M reduced price in last 7 days only).
I am hearing the same from realtors for Cupertino, Santa Clara, Sunnyvale and Campbell - market steadily declining since April 2018. Approx 2-3% decline every quarter.
I can provide some evidence - house on a nearby street in 95014, <2000 sq ft, corner lot sitting on the market now for 70 days. Price hasn’t been reduced yet.
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A steady decline is even more worrisome. What’s the reason though? Is it because the tech stock sell off and RSU is worth less now?
I hear the uncertainties of the trade war mentioned most often.
That said, nobody asked for reasons when prices were increasing 15% year after year, right?
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