Multiple offers, oh my! No contingencies, oh my! As long as you aren’t in Berkeley, Albany or Oakland, then it might be considered normal. Normal is defined as a market where buyers and sellers have equal bargaining power. Yah right, not here! But all joking aside, even in these very competitive markets we are starting to see some normalcy. Indeed there are opportunities for buyers to actually inspect and negotiate. Many buyers who purchased during the 2004-2006 boom are now seeing that they have some equity and might be able to finally move up.
According to Zillow Berkeley confirms that we have a healthy market:
Rental prices are starting to drop. A little.
And prices in 2017 are not expected to change much.
So it does seem that we are entering a more normal market. What do you think?