The unrelenting Bay Area real estate market kicked off 2005 in high gear as home prices soared 20% from a year ago and sales reached the highest level since 1989.
The housing market’s continued robust performance defies well-worn predictions of a slowdown. Many economists had expected the region’s real estate sector to weaken, but after an initial decline in 2001, the market rebounded—like a Superball—driven by the magic combination of the lowest interest rates since the 1960s, the lowest inventory in 20 years, and investors’ reluctance to plow money into stocks and bonds.
These conditions have created one of the best seller’s markets we have ever seen! Even if interest rates do rise a bit, we believe that desirable areas like San Francisco will remain just that—desirable. The slim inventory of properties for sale in good locations fetches multiple offers and sells for well over the listing price.
If you have been considering selling, now is a great time! Please call us to schedule a no-cost market analysis of your valuable property and learn how to maximize your investment!
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