I had the pleasure of speaking at Acacia Creek on Monday at their luncheon to celebrate Earth Day. I "dug the dirt" on our local real estate market. There were 75 people in attendance and among other things, I talked about how we have had a 47% increase in the number of homes going under contract compared to a year ago at this time and a 20% decrease in the number of homes available. For those who were thinking of making a move to Acacia Creek, now is a great time to sell. Due to the influx of buyer demand and the decrease in the number of homes available, multiple offers are becoming commonplace again.
Although our home prices have been steady over the past year, due to the current demand, we have been seeing a spike in home prices. So, the question is, "Will the prices continue to rise?" I believe the increase in prices is temporary and will eventually subside. We expect to continue to see our prices remain steady overall which is what we need to see for several years before we begin to see steady appreciation again.
If you haven't had the opportunity yet, and you are over 62 years of age and considering retirement options, I recommend going on a tour of Acacia Creek. It is a beautiful continuing care community in Union City. Many of the apartments have beautiful views. They have a garden, many activities and an incredible welcoming staff.