Kyle Daniels presents the Hill Report for March 12th, 2025, describing a fluctuating real estate market with varying trends.
Kyle reports that out of 11 closed sales in the past week, 7 sold below list price, 2 went over, and 2 sold at list price. The market showed overall health with average closed prices matching list prices. There were 21 new listings and 16 new escrows, though many came with discounts. The market also saw 19 price reductions and 3 properties returning to market after falling out of escrow.
Regarding inventory, Kyle notes that the peninsula has 159 single-family residences for sale, with just under 200 total residences for sale. Properties over $4 million, numbering 52 listings, have been on the market for about 100 days, with one-third experiencing price reductions. In contrast, there are only 22 properties under $2 million, with an average market time of 56 days, and almost 50% have had price reductions.
Kyle emphasizes that the current market presents a good opportunity for serious buyers, with inventory levels approaching those seen in 2019. He notes that while interest rates are declining, there’s some economic uncertainty, but sellers currently listed are motivated to sell. He advises buyers to prepare financially, whether through mortgage arrangements or cash purchases, and suggests the possibility of future refinancing if rates continue to decrease.
To watch the entire market report, visit our YouTube Channel
