Signs of an Improving Housing Market - 2011 Bay Area Market Reports

Recently, there have been more optimistic reports nationwide that indicate there appears to be signs of life out there for the housing market.

My recent experiance is that nice, well priced homes are selling in all areas of the San Francisco Bay Area and many with multiple offers. For example, I represent a client looking in the south bay and the last two homes we have made an offer on have had more than 20 offers each.

Yes, they were in desirable neighborhoods, showed nicely and sold quickly. Also, they were priced at the low end of the market price range to encourage multiple offers. A recent survey of agents nationwide by HouseHunt.com revealed that 65% of agents reported at least one multiple offer situation in the last quarter of 2011.

With that being said, below are the Market Activity Reports for each San Francisco County for 2011:

San Mateo County Market Metrics Report

San Francisco City/County Market Metrics Report

Santa Clara County Market Metric Reports

Santa Cruz County Market Metrics Reports

Alameda County Market Metrics Reports

Contra Costa County Metrics Reports

Of note, available inventory is below 2.5 months in all Bay Area Counties with the lone exception of Santa Cruz County. A balance market is considered 6 months of housing inventory.

With the complexity in today’s mortgage and real estate market you will benefit from the advice and guidance of an experienced and knowledgeable mortgage and real estate professional. To see how our technology supports the needs of Buyers and Sellers, click here.

I’m always available to answer your questions or discuss your concerns. Just text, call (650 325 7877) or email me for a prompt response. If you are in the San Francisco Bay Area, I invite you to take a look at our Resource Center, AboutBayAreaHomes.com. There you will find links for active home listings, home loan information, market activity reports, home seller strategies, staging and decorating ideas and more.

Russ Boyd and his team professionally assist buyers, sellers and homeowners in the Peninsula Communities of the San Francisco Bay Area. They serve clients in San Mateo, San Francisco, Santa Clara, Alameda and Contra Costa counties. Licensed as a Real Estate Broker by the California Department of Real Estate, 01264240. National Mortgage Originator Endorsement 230411.