Real Estate Market Blog: February 2014

 

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.

Dramatic Inventory Shortages Driving Bay Area Home Prices Higher

February 21, 2014
Ginny Kavanaugh
From our resident expert, Rick Turley: A red-hot, full-blown seller's market has engulfed Bay Area real estate. Buyers are fighting each other to land the winning bid on homes from Novato to San Jose, Burlingame to Pleasanton. Six-figure properties are being bid up into the seven-figures. In all my years of real estate, I've rarely seen a situation quite like this. The only thing missing from this wild seller's market is...well...sellers! There's a dramatic shortage of homes for sale all around the Bay. This mirrors a national trend, which ...

February 2014 Real Estate Update

February 19, 2014
Ginny Kavanaugh
The supply of homes for sale in the Bay Area has been at or near historical lows in many communities, driving up prices for those relatively few properties on the market. However, I am starting to hear from clients that they’re thinking about selling, and a good number of homeowners are actually getting their properties ready to list for the spring selling season. Only time will tell if homeowners do in fact decide to list their homes. But my guess is that those who have been on the fence about selling are reading news accounts of prices ...