Realtor.com says the San Jose and San Francisco metros were two of the five hottest real estate markets in the U.S. in March. I say we’re still hot! hot! hot! in April.
The story across the nation is low inventory, but “prices are now also taking center stage”, according to realtor.com. That makes it tough to buy in the top 20 markets nationally, but “homes there are likely to be a good investment”.
Particularly hot! hot! etc! were the affordable Bay Area cities of Vallejo (ranked #1) and Santa Rosa (11), the Central Valley metropolises of Stockton (13) and Modesto (16) and, on the coast, the friendly laidback town of Santa Cruz (9), where the real estate market is anything but laidback. Must be all those techies driving over the hill, a-changin’ things.
Meanwhile, back at the ranch, the mid-Peninsula and South Bay are still hot! in the $2-3M range. Ten offers on a small rancher in Los Altos that hasn’t been updated since 1951 (although I like knotty pine kitchen cabinets, don’t you?) and ten offers on a thoroughly updated paradise in Saratoga, just in the past two days.
Los Altos has been hot! since 2010, Saratoga since, yes, 2010. It can’t last, folks. But it has.
copyright © John Fyten 2017