San Francisco & North Bay Real Estate Market – review of Jan.2021
Sonoma, Marin, and Napa Counties have seen unprecedented sales numbers since the Spring of 2020. Pandemic conditions which resulted in remote working and distance learning has created a surge of demand for larger homes and bigger lots.
Many San Francisco and Silicon Valley homeowners have found the answers to their search for a more compatible living arrangement in the North Bay. January real estate statistics present a picture of what happens when there is a rush on single family properties and extraordinarily little inventory.
- New escrows: 193 (down 27% from 1/2020)
- New listings: 207 (down 45% from 1/2020)
- Sold: 308 (up 34% from 1/2020)
- Inv. As of Feb.1: 458 (down 28% from 1/2020)
- New escrows: 106 (up 17% from 1/2020)
- New listings: 106 (down 17% from 1/2020)
- Sold: 140
- Inv. As of Feb.1: 139
- New escrows: 52
- New listings: 55 (down 46% from 1/2020)
- Sold: 69
- Inv. As of Feb.1: 188
It is expected that the immense demand for homes from buyers coming from more urban areas of California will continue and possibly even escalate going into the first half of 2021.
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The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.