07/09/2022
Mid Year - San Francisco Bay Area 2022 Real Estate Housing Market Update: As homes in the Bay Area continue to sell for record prices, heightened interest rates are having less than marginal effect. Inventory is still historically low. According to C.A.R., 11.5% lower YTD . The median sales price at the close of last month was $1.5M ($833 per Sq. Ft.). Homes are still selling for more than the asking, as bidding wars continue in this region. Homes are receiving 4 offers on average with 14-16 Days on Market (DOM). While inventory may grow in the Fall, there is no indication of the market cooling. This market behavior also includes counties of Alameda, Napa, Marin, Santa Clara and Sonoma. However, lesser known areas, with greater space, are becoming increasingly popular for Single-Family Residence (SFR) buyers.
