Are Bay Area Real Estate Statistics Fluctuating?

Have you been wondering what happened in the real estate market last month?  Below find some interesting facts regarding average sales prices for single family homes that might either surprise you or confirm your suspicions:

  • San Francisco: $1,840,343.  Down $126,907 from July
  • Menlo Park:  $2,744,629.  Up $159,895 from July
  • Foster City: $1,900,846.  Down $29,862 from July
  • Belmont:  $1,755,391. Down $29,784 from July
  • San Carlos: $2,223,333. Up $18,162 from July
  • San Mateo:  $1,738,810. Up $14,421 from July
  • Burlingame: $2,691,071. Up $27,759 from July

In general, the number of homes for sales fell, for example in San Francisco 509 homes sold in July 2019 and 406 sold in August 2019.  Likewise, the current inventory of active homes for sale fell slightly from 722 in July to 719 in August.

On the other hand, several agencies believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered selling your house, now may be the best time to put it on the market.

Rest assured that there does not seem to be any big decline in real estate values soon according to these trusted prognosticators. 

Bottom Line:   Playing the waiting game may not be the best strategy if you are planning to sell or to buy in the near future.

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Best, Forest – The Guy in the White Hat
Hard Money Broker and Co-Owner of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988! 707-523-2099
CA DRE license #010005559 and NMLS #289456

Note:  Get our financing despite bad credit, difficult to prove income, property a fixer, etc.!  We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases and commercial.

The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.

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