Uncategorized • October 13, 2020
Your Real Estate Update 10/14/2020
Good morning Friends!
Despite a pandemic and wildfires, Bay real estate markets are hot — leaving realtors to believe the ‘exodus’ is overblown.
You may have heard people are fleeing California — fed up with fires, smoke, and tiny apartments during a pandemic — especially those who can work remotely,
but real estate experts agree: The notion of a mass California exodus has been overhyped.
Yes, rents have dropped in pandemic-era San Francisco, but less so in the East Bay and other areas of the region that allow people more space — suggesting most people are moving within the Bay, not out of it.
Additionally, in terms of home sales, the market remains robust, even reaching new heights.
The median price for a single-family home in the Bay Area reached a record high of $1,068,000 in August, up 18.7% over a year earlier.
That increase reflects both actual appreciation and a shift toward higher-dollar transactions that skew the median figure.
If you or anyone you know is thinking about buying or selling, call me anytime. I’m here to help!
All in one page are your county’s housing trends at a glance. Indicators provided are sales, median prices, inventory indicators, and so much more!
What is Your Home Worth?
Click HERE to Check current market values for your home and view profiles of potential buyers.
Click HERE to stay connected to what’s happening in the real estate market in your area.