April 14, 2024


Interior Of The Road

Bay Area home sales down 17%, report says

SAN FRANCISCO (KRON) — Bay Area house product sales are down roughly 17% from previous year, according to a report by RE/MAX or Serious Estate Maximums, which is an American global real estate company. The report stated there were being 4,099 housing transactions in April 2022 compared to 4,952 in April 2021 — a variance of 853 or around 17%.

It is no mystery that the Bay Location is a single of the much more high priced areas to reside in the nation. In addition, the report’s results say property sale price ranges have gone up 12.6% due to the fact last yr.

The energetic housing inventory is up 10% given that very last 12 months, the report claimed. Regardless of the stock heading up from past calendar year, inventory even now stays at document-small amounts.

According to President and Broker of RE/MAX Gold Bay Spot Tim Yee, some elements involve soaring desire prices, unchecked inflation, and buyer assurance have contributed to modern developments in the Bay Region housing marketplace. Yee mentioned a variety of prospective buyers on the more affordable finish of the spectrum have been priced out.

RE/MAX mentioned the common Bay Place dwelling is on the market place for 21 times. The median listing price tag is $1,099,000 for April 2022 when compared to $999,000 the similar time previous 12 months — just one-calendar year difference of 10%.

Even so, the median cost all those homes were being sold at ended up documented to be higher. The median price tag marketed was $1.3 million for April 2022 compared to $1,155,000 in April 2021 — a just one-year change of 12.6%.

The Bay Spot is made up of nine counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma. Past November, KRON4 noted that practically 50 Bay Place zip codes manufactured the list for the most costly actual estate in the U.S.