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Across the country, newly built homes are becoming an increasingly attractive option. Builders are stepping up with price reductions and incentives that most resale sellers simply can’t match. In the Bay Area and Northern California—where inventory of existing homes remains tight due to current mortgage conditions—new construction often stands out for buyers balancing cost and flexibility.

Where development is strong, we see firsthand how additional supply can ease affordability concerns and create more choices. Builders are responding to the market with competitive pricing and perks like mortgage rate buydowns—reminding us that it’s always wise to compare both new and resale options.

As someone who’s guided hundreds of clients through these decisions over the past 20 years, I know how critical it is to weigh all possibilities. If permitting slows further, these affordability advantages may not last, so streamlined local rules and continued building remain key to keeping options open for buyers in our communities.

San Jose’s housing market continues to stand out, with inventory remaining about 27% below pre-pandemic levels. This persistent shortage means sellers are in a strong position to maximize their sale price. The median home price has reached approximately $1.35 million, reflecting San Jose’s reputation as one of California’s most sought-after—and competitive—markets.

Silicon Valley’s tech-driven economy continues to fuel demand, shaping distinctive market conditions that both buyers and sellers must navigate carefully. In fact, more than half of San Jose homes recently sold above asking price. For homeowners considering listing, this translates into a significant advantage when setting pricing and preparing for negotiations.

After 20 years helping clients buy and sell throughout the Bay Area, I’ve seen how tight inventory and above-ask sales create a favorable environment for sellers. My approach is always centered on your best interests—guiding you to make confident, well-informed decisions in a fast-moving market like ours.

Over the past few months, we’ve seen seller concessions reach a new high across the U.S.—with around 45% of home sales in the rolling three-month period ending mid-Q3 involving some form of concession. That’s up from about 43% a year ago, reflecting a market where buyers have gained a bit more leverage as inventory rises and competition cools. Concessions are taking many forms—help with repairs, covering some closing costs, or even mortgage-rate buydowns—offering buyers more flexibility to reduce their overall costs, beyond just a lower sale price. In fact, about 16% of homes sold in mid-Q3 paired a price reduction with a concession, giving buyers even more ways to make that first step into homeownership a little easier. I’ve seen these trends firsthand here in Northern California and the Bay Area, where creative negotiation is becoming a key part of helping clients achieve their goals. With over two decades of experience guiding buyers and sellers through shifting markets, my focus remains on finding the approach that best serves your interests and brings peace of mind to your real estate journey.

California’s recent move to streamline small-lot home approvals is something I’ve been following closely, especially as it may create new opportunities for buyers and investors across the Bay Area. The law introduces a 60-day fast-track approval process for subdivisions of up to 10 homes on qualifying infill sites—skipping over environmental reviews and public hearings when requirements are met. In multifamily zones, each new small lot must be at least 600 sq. ft., with city standards limiting average home size to 1,750 net habitable sq. ft. The 10-home limit is calculated differently depending on the zone: in multifamily areas, ADUs and JADUs are excluded, while in single-family zones, only JADUs are. Los Angeles set the stage for this kind of housing years ago, but now the approach is spreading statewide in an effort to expand homeownership. Whether these new small-lot homes serve as true starter homes remains to be seen, but recent updates are also making it easier to redevelop vacant single-family lots. Having navigated the Bay Area’s evolving real estate landscape for over 20 years, I see these changes as another tool to help clients find options that fit their needs—whether you’re exploring homeownership for the first time or looking to invest in the region’s future.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.