The San Francisco Bay Area has long been one of the most sought after real estate markets in the nation, if not the world. With so much to offer in the way of natural and cultural resources, but so little coastline, home and business real estate in the bay region has always been hard for people to get their hands on, and usually at a hyper-premium price tag. That trend seems to be easing up with recent strong increases in home availability. Here is the countdown of the five top bay area locations with the highest amount of real estate sales.
5. San Francisco
While San Francisco is still not a bargain market, the city on the bay has seen a rise of over one third in the housing inventory going on the market. San Francisco is one of those towns that does not seem to care about supply and demand when it comes to real estate. While more availability usually drives prices down, the average cost of a single family home in San Francisco has risen to nearly $900,000.
What started off as a county trash disposal protest in 1908 by local women soon grew into the formation of a city that is today a very pleasant place to live. Albany is a smaller town. It only has a population of around 20,000, but is also home to the only horse race track in the San Francisco region. There has been a large-scale trend toward home availability in Albany recently. Albany is not the household name that San Francisco is, but it has 38% more homes up for sale than before. With pricing averaging under half of what you would pay to get a comparable property in the city, Albany is a very attractive real estate market, and those already low prices have been continuing to fall even further in the past few months.
Berkeley California, most known for its turbulent past and its state university, can also get the recognition it deserves for its 57% increase in homes ready to move in to. Berkeley is a walkers or bicyclers paradise and has some of of the best breathtaking views of San Francisco bay in the region. Berkeley is one of the best compromises on the list, with home prices falling right in between San Francisco and Albany at a smooth $750,000.
Brisbane is a hustling and bustling corporate center by day and a sleepy enclave with a population of less than 5000 by night. Brisbane has several business centers throughout its small area with a focus on professional, technical, and administrative services. There are 60% more home openings in Brisbane as of the summer of 2013, with the average cost of a home hovering at just over $600,000. Maybe it is time to move to the quite suburbs.
Belmont not only has the greatest growth in availability, which is up 75%, but also has some of the strictest smoking laws in the country. Home sales continue to be in the $100,000,000 range, and Belmont is indeed a city unto its own. Over 26,000 love it that way.
If you have ever wanted to have choice and selection in the San Francisco Bay Area, then right now might be the best chance you will ever get.