Found 2 blog entries tagged as San Francisco Bay Area Homes for Sale.

The busiest home buying season of the year is about to arrive, and it has just developed into one of the best times for sellers in years.  A lot is going on, in and around the San Francisco Bay Area, that affects the value of a Piedmont or Oakland home.  Here are some of the elements at work:

1. Lack of Available Homes On the Market--Throughout the Bay Area, the inventory of available homes is extremely low.  This means that motivated buyers are competing against each other for fewer homes. Additionally, it means that home prices are rising dramatically, as buyers compete fiercely against each other to purchase the limited home stock.  An indication is that last year's February's median single family home price in the immediate nine bay area…

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As any agent selling in the East Bay area will tell you, there are just not enough homes on the market for number the buyers that want to buy them.  There is a such a severe shortage of homes, that most of those that are currently on the market are getting many, many offers, and often at prices surprisingly higher than the original asking price.  

How did it get to this state?  A recent news report from Realtor.com states that San Francisco area home prices in January were up 23.7% from a year earlier, and in the Oakland metropolitan area, which includes Alameda and Contra Costa counties, prices rose 24.1 %. If you concentrate on just the Montclair and Berkeley areas, that price rise is 17% higher than last year. That percentage should go…

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