Wang said buyers priced out of the South Bay and shopping for more space, at a better price, are looking in the East Bay. One family bid on a single-family home in Dublin — only to discover they were one of 49 offers on the house. The four-bedroom home sold for about $400,000 over the $1.7 million listing price.
“The aggression of the buy side,” Wang said, “is shocking to us.”
Median home prices continued to rise, year-over-year, throughout Bay Area counties: prices rose 16 percent to $1.25 million in Santa Clara, leaped 25 percent to $720,000 in Contra Costa, and increased 5 percent to $1.45 million in San Francisco. San Mateo County home prices were flat in January at $1.42 million, according to CoreLogic data.
Realtor Jeff Hansen said condo sales have started to pick up after months of slumping. Buyers had hesitated to move to city centers with shops, businesses and restaurants closed, he said.
He’s also seeing Silicon Valley workers hunting more aggressively in Santa Cruz. Tech workers have been less concerned about commutes during work-from-home routines, he said.
Hey I seem to see a mini surge of listing coming online on the Peninsula this weekend. Anybody else sees that? How are things looking in the South and Easy Bay?
This indirect way of raising water prices. they will put limits and over limits will be penalized. my theory of high cost water is coming sooner than later.
I am amazed how cheap condos are in SF. Less than $700/Sf.
Many have high HOAs but there are hundreds under $1m. Whereas it is hard to find a decent house under $2m
$1m rent for $4200? Not a good return but the the price has been dropped to get multiple bids. Let’s see what happens
