Real Estate Market Blog: December 2016

 

Insights on the real estate market trends on the Mid-Peninsula: Portola Valley, Woodside, Atherton, Menlo Park, Palo Alto, Los Altos and Los Altos Hills.

Bay Area Housing Market Turns in Strong Performance in 2016

December 27, 2016
Ginny Kavanaugh
The Bay Area housing market had its challenges in 2016, including low inventory of homes for sale, rising prices that challenged would-be buyers, and political uncertainty with the presidential election. But despite the headwinds, this turned out to be a fairly good year overall for our local housing market.  Many home sellers once again enjoyed strong gains in sale prices - albeit not quite as strong as 2015, but good nonetheless. The median sale price for single-family homes, condos and townhouses in the Bay Area through October (the ...

December 2016 Real Estate Update

December 13, 2016
Ginny Kavanaugh
As we approach the end of the year and look back at 2016, we see that it turned out to be another strong year for our local real estate markets. Mortgage rates continued to decline despite predicted increases. The near record low mortgages converted many renters into buyers as homeownership could bring a lower monthly payment in some cases. 2016 also featured more eco-friendly additions to the home, including electric car charger stations in most newly constructed homes, solar panels for electricity, and synthetic lawns due to the ongoing ...