Home Inventory Shortage Means Higher Prices for Oakland and Piedmont Homes
Posted by Bruce Wagg on
The recent Bay Area Market Report for the first quarter of 2013 has just been released, and the results are very exciting for Oakland homeowners, and Piedmont home sellers who have been considering putting their home on the market. Right now, there is a drastic shortage of homes for sale on the market. As of March 31, 2013, there are only 4098 existing single-family detached homes were listed for sale in the entire nine-county Bay area. While this is an improvement from the 3.370 homes available as of 12/2012, it is still down 55 % from the 10,282 homes available a year ago to date.Â
While home sales have fallen to their lowest level in five years in the Bay Area, once homes are placed on the market, all nine Bay Area counties reported…
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