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Right now, its an off market. I used to be able to predict and analyze the state of the Bay Area real estate market very easily, but now its topsy turvy as many of the sales in the Oakland-East Bay area are lower market short sales and foreclosure sales while SF and SJ I suspect are people who were shut out in the 2000s by steep prices are now able to finally buy.
In all 3 Bay Area regions, the $1 Million+ market seems to have survived the recession relatively unscathed while the under $500,000 market has been battered and shattered.
Things are extremely turbulent in this area right now.
1. San Francisco, CA
2. (tied) Seattle, WA
2. (tied) San Jose, CA
4. Alexandria, VA
5. (tied) Oakland, CA
5. (tied) Woodbridge, VA
7. (tied) Fort Collins, CO
7. (tied) Arlington, VA
9. Boston, MA
10. Irvine, CA
The Bay Area is certainly well represented. I'm not really familiar with that market, but from what Montclair posted, I wonder if it might be similar to Irvine?
JMHO, but I think that while the high end in Irvine has remained relatively unscathed thus far, it's either due for significant downward pricing pressure, or possibly a very, very long period of flat prices. Economic realities just don't support the current high prices.
Maybe the overall economy in the Bay Area is better though?
I just read an article about building permits in the central valley and bay area. The central valley is way down over last year (which was bad), the bay area was up 250% over last year.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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People buy where the jobs are, companies like Microsoft, Boeing and Amazon are helping Seattle home sales by hiring thousands of people
in high tech, probably the same is going on in the bay area? The areas that depend on agricultural, and manufacturing are going to take a lot longer to catch up.
People buy where the jobs are, companies like Microsoft, Boeing and Amazon are helping Seattle home sales by hiring thousands of people
in high tech, probably the same is going on in the bay area? The areas that depend on agricultural, and manufacturing are going to take a lot longer to catch up.
interestingly enough, it ain't microsoft, boeing, amazon employees snapping up houses.
tie (t).n.An equality of scores, votes, or performance in a contest: The election ended in a tie.
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).n.An equality of scores, votes, or performance in a contest: The election ended in a tie.
