The "normalization" of the market continues with the supply and demand creeping ever so gradually toward one another.  Prices have been the great equalizer.  Median prices in the Valley's most expensive areas, which had appreciated so quickly in 2005, have declined as much as 8% while median prices Valley-wide have inched up ever so slightly.  Listings that show well and are priced aggressively are selling.  Those that languish are generally without any compelling differentiation from others in the neighborhood or priced too optimistically to attract available Buyers.  And with the average days on the market passing the 90 day mark, Buyers have learned they have the time to be discerning and value conscious.  Sellers are realizing the truth about this "Buyer's Market," and are willing to be aggressive in the sale of their current property knowing they will gain an offsetting advantage when they trade up to a better property.  They are truly the beneficiaries of this market.

This is an outstanding market for the "Move-Up Buyer"; but, also, investors.  True investors ready for the benefits of long term real estate investing. 

By Sandy Young, CRB  Managing Broker for Realty Executives.