The Bay Area real estate market update…total inventory from South San Francisco to Redwood City is up to 290! We had 68 Single Family homes come onto the market in ONE WEEK, that is the largest amount of homes to enter the market in one week for the entire year. The market was not totally on vacation there were still over 50 sales as well as homes selling 100% of list price to sales price. Tim analyzed since 2015 if you put the inventory before labor day to after labor day in those 5 years, this year we had a 25% bump in inventory. Will we exceed the annual peak number that was set this summer at 313? Last year we did exceed in October which caused the market to change for a few months, it is important we really track what happens supply vs. demand and stay below the current peak marker. In that sold for what Dan and Tim go over a home in North Shoreview San Mateo, great location for access to Occulus the new Facebook office space. The home he goes over sells for almost 300K over asking. Listen to find out why Shoreview of San Mateo is a good place to invest. 2007 was the last markable peak, and homes today are DOUBLE what they were. Dive into the podcast to hear all the details !
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