Received another informative article from Val Krysov, long-time Real Estate Broker about the Bay Area’s real estate market.  Summarizing his and other recent articles about San Francisco real estate, we can see declines in sales and values have been predicted. However, based on the latest statistics for sales of single-family and condo residences at the start of the year, there’s no obvious signs of deceleration.  Val’s data supports the market still being strong:

San Francisco Single-Family residences:

• Ave. sales price: $1,848,077
• Days on market: 46
• For sale at end of month: 218
• Sold: 93

Menlo Park Single-Family residences:

• Ave. sales price: $3,337,900
• Days on market: 25
• Sales price=asking price

Belmont Single-Family residences:

• Ave. sales price: $1,870,000
• Days on market: 41
• Sales price=4% above asking

San Carlos Single-Family residences:

• Ave. sales price: $2,242,000
• Days on market: 39
• Sales price=2% above asking

San Mateo Single-Family residences:

• Ave. sales price: $1,743,769
• Days on market: 30
• Sales price=2% above asking

Burlingame Single-Family residences:

• Ave. sales price: $2,296,875
• Days on market: 34
• Sales price= 2% above asking

This report does not bear out some of the more depressing forecasts touted by the predictions. Perhaps, because of the lack of inventory in these cities we are not seeing prices drop as precipitously as they might and Investors and homebuyers still see these areas as strong real estate investments.

If you have a homebuyer or borrower looking to buy or refinance in the San Francisco Bay Area, and they are in need a private mortgage because they do not qualify for conventional or traditional financing, or just need some FAST mortgage help, give us a call at 707-523-2099 or find us through our website at Sunpacificmortgage.com.  We have helped thousands of borrowers in California for over three decades and we work with Brokers and Agents.