What You Must Know About The Real Estate Trends In Bay Area and Nearby Regions
The real estate sector saw some unusual activity in the trends. Talking particularly about the Bay Area real estate. The area which consists of the region’s 9 countries in which the total number of single family homes sold are around three thousand three hundred and seventy two family homes.
In a similar fashion, there was a 16.5 percent increase in the median cost of homes as compared to the previous year. The amount is close to $635,000, with the same year over year profits posted in Silicon Valley and the East Bay area.
In Santa Clara County, the median cost homes were raised by a margin of percent in comparison to the previous year which is aggregated to be equal to 830,000. At the same time in the Alameda County, the $660,000 an amount which is equal to a 14.8 percent increase from January 2015.
A senior Research Analyst for as leading Real Estate information service has said in a statement that there is an immense stress on the affordability front and this stress will be a continuous procedure for the coming time.
According to the latest numbers released, the expert has made observations that the region’s median is $635,000 median and he would for one more time would buy next to nothing in the Silicon Valley hub. But there is a possibility that he would buy a small parking lot.
A broker based in Rainy hake mentioned that the real estate has been his area of interest for so long that he cannot imagine his life without the real estate. He explains that most of the homes are just like the irrelevant or nondescript with respect of the price point at which the home are bought. He has an idea that someone might consider to take all the money and move permanently to Oregon or Portland. Another destination can be Austin, Texas.
The trend is common in the Bay Area, it means that a lot of people are exiting from the Bay Area. Most of them are moving to the places where the market is more economical or should we say in the limit of the pocket. Another reason moving out is the improved and well established lifestyle. However, the bay Area market is a matter of apperception of different individuals.
The home sales across the Bay Area region saw a dip in the home sales in the december to January Month. The downfall was aggregated to be 36.1 percent. This is the year over year numbers and the month over month sales were saw a drop of thirty seven percent. at the same time the sales dropped in Almanda by a heavy percentage. Forty percent, which is 4 percent more than the other two.