When looking for great California real estate, look no further than the Bay Area. With great weather, beautiful views and numerous attractions nearby it’s no wonder real estate in the area is at a premium. No matter what kind of property is wanted, it’s in the Bay Area. Single-family homes for those who’ve decided the Bay Area is the perfect place to raise kids, while retirees will love the laid-back lifestyle that retirement brings with it. With the local economy starting to rebound from the past few years, buyers and sellers alike can choose from a variety of properties. Rooms with a view are plentiful in this area, as are ones with close proximity to some of the state’s leading shops and restaurants.
Covering such areas as Santa Cruz, Santa Clara, San Mateo, Monterey and others the Bay Area offers properties that everyone can enjoy. Working professionals can find themselves in a condo near the hottest nightspots, allowing them to unwind after a tough day at the office. Families can purchase a home in one of the many well-established neighborhoods in the area, providing them peace of mind while raising their kids in a safe and inviting environment. Retirees who have earned some serious relaxation time can find a home near one of the many great golf courses, spending their time trying to birdie and eagle their way to a great finish at the 19th hole.
Numerous properties are available for sale in many of the area’s top neighborhoods including Sunnyvale and Scotts Valley. The Estates at Sunnyvale offer luxury living at its finest. These homes offer conveniences such as oversized walk-in closets and the latest kitchen appliances. Priced between 1-2 million dollars, these are homes just waiting to be bought by those who appreciate the best a home has to offer.
The good news for many sellers in the Bay Area market is the housing market is starting to see a tighter supply of properties for sale, which is leading to buyers becoming very willing to pay more for their perfect home. Often a bidding war may erupt between parties interested in a certain home, which can be music to a seller’s ear as they see their profits go up and up. The biggest question currently in the Bay Area real estate market is wondering when the housing inventory level will bottom out? Most analysts are unsure of when this will happen, although some suggest it may have already occurred earlier in the summer.
More good news for Bay Area real estate concerns California’s rebounding economy. The Bay Area, known for a very robust economy, is seeing home values hit heights not seen since 1980. A big part of this is the demand for Bay Area property by international buyers, who are flocking to California to purchase investment properties for their portfolios. Along with an extremely low housing inventory, the Bay Area is rapidly becoming the hot spot for California real estate. As demand continues to escalate, so will seller’s profits as prices rise to record levels.
The nine counties that make up the Bay Area easily lead all regions of California in median sale prices, with the average being $720,000. This represents a 31% increase over last year, with such areas as Napa county, Alameda county and San Francisco seeing the biggest increases.
As the state’s economy continues its resurgence, the Bay Area real estate market is primed to be at the top of the list of buyers looking for beautiful California property. With all it has to offer, buyers and sellers are striking gold in the Golden State.