Tag Archives: Bay Area Luxury Home Market

North Bay Real Estate: The Marin, Napa & Sonoma Markets

January 2014 Market Report

The real estate market recovery started in earnest in 2012 and then went red hot in spring 2013, which resulted in an additional, big, fast jump – approximately 20% – in home prices. After the spring peak, the market calmed somewhat in the second half of the year and prices stabilized, but buyer demand remained very strong by historical standards. Economic conditions have continued to improve, household net worth has increased dramatically with rising stock and housing markets, foreclosure rates and distressed property sales have plunged, the second-home market has picked up, and interest rates, after jumping in 2013, are still relatively low. Though it is impossible to predict the future, these factors typically form the foundation of a healthy, active housing market.

In the next few weeks, new listings will start coming on market in quantity, buyers will get back in home-search mode and the market will begin to wake up after the holiday hibernation. Then we’ll start to get an inkling of what the new year has in store.

Median Sales Price Appreciation, 2011-2013

This first chart above gives an idea of the scale of the rebound in home values since the recovery began about two years ago. Median prices are affected by other factors besides changes in value, and different areas experienced bubbles and crashes (and now recoveries) of different magnitudes. Median sales prices are generalizations and changes in them should be considered very approximate indicators of appreciation, but by any measure there has been a huge recovery in North Bay real estate values.

Comparative Dollar per Square Foot Values

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“Red Hot” Bay Area Luxury Home Market Blasting Off!

Surely, every Realtor in the Bay Area is pumping this new article about the luxury home market in our area, so I guess I better do the same. It’s not like you haven’t heard it from me before, with all of my stories of multiple offers, all cash buyers, and the general state of our market. But what the hell. It’s more data, and I know you all love it.

I’m anxious to see how this fall selling season goes. There was such a flood of inventory these past couple of weeks, the buzz certainly seems to have mellowed a little and spread the buying field out. The next couple of weeks will be particularly interesting in regards to offer dates, and whether we will see the same numbers of offers on individual properties we had seen in the summer. I’ll keep you posted.

-“Red Hot” Bay Area Luxury Home Market Sees Biggest Jump Since 2006 [Business Times]