“The month of May saw a strong seller’s market and the pattern has continued into the summer months.”
REALTOR.com’s June Top 20 list of national housing markets confirms that affordable housing alternatives to pricey core Bay Area communities still see extremely strong demand.
“The real estate market in Northern California is seeing varying activity depending on the counties, cities, neighborhoods and homes.”
This month I wax nostalgic, then prophetic but not apocalyptic but not euphoric either.
The Bay Area has four of the twenty hottest real estate markets nationally, according to realtor.com. Another top-twenty metro is just south of us, and three others are also located in the Northern California region. Or, as some are starting to call it, the Northern California Megaregion.
“Northern California had a strong start to the Spring home buying season notwithstanding low inventory. The housing market continues to experience an abundance of buyers, and in most cases, multiple offers on reasonably priced listings. New listings continue to come on the market, but not at a rate that meets buyer demand.”
“Northern California continues to experience a healthy sellers’ market with median and low priced properties and, in some areas, with reasonably priced luxury properties. Due to the limited inventory and high demand for median priced properties, most reasonably priced listings receive multiple offers above asking price.”