The Bay Area real estate market update…total inventory from South San Francisco to Redwood City had an INVENTORY SURGE over the past week creating a new 2019 peak. Total inventory now is at 311 which is still below the peak of 2018 of 344, however shows that we are at that time of year when inventory reaches its highest point. There were a lack in sales last week, however is that a result of the holiday weekend of Memorial Day the weekend before? We did have 48 SFH close escrow last week, the list price sales price ratio was over 100%. Tim and Dan both agree that this is what happens every year when it comes to June, every year. In “Tales of the Street” we go over a property in Hillsborough that sold for a whopping $1800 a square foot which is surprising but a direct reflection of a home that is almost perfect with single story, walkable to downtown even when the inventory is highest in the peninsula in Hillsborough. Also, word on the street is that Stephan Curry is buying or has bought in Hillsborough, GO WARRIORS and welcome to town! Tim and Dan also dive again into the health of the bay area economy as well as the real estate cycles and what do they tell us and where are they going in the bay area. Also some tips and information on Capital Gains taxes and property around here.
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