Bay Area Sellers Sitting Pretty as Housing Prices Rise While Inventory Wanes

By Real Estate March 24, 2017
Low Bay Area housing inventory pushes prices up

Across the Bay Area sales slowed last month to the lowest levels since 2008 however prices rose on low inventory and increased competition from buyers. Looking at the nine Bay Area counties, prices increased by 11.4% when compared to February of 2016. The median price for a Bay Area home is now $675,000. Aggregated sales across the region totaled only 3,272 which represents a 21% decrease below the February average going back almost 30 years. Predictably, prices responded by moving up given the constant demand for housing set against the shrinking availability of homes for sale.

You can read the article here: Low Inventory equals higher housing prices across the Bay Area

About the Author
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Adam Ettenson, Broker / Owner

Adam’s real estate experience encompasses residential sales, renovations, real estate development, property and asset management, and multifamily investment acquisitions. He has helped countless clients buy and sell property throughout the Bay Area, including in San Francisco, Marin County, Alameda County, San Mateo County, and Santa Clara County. He has overseen the condo conversion and major renovation of a two-unit building, and has worked on several affordable housing residential development projects with budgets exceeding $20 million, helping low-income families secure safe, affordable housing. He is currently working on a project that entails adding a condo unit to an existing building as well as a major horizontal expansion and renovation, increasing the total square footage to approximately 1500 square feet. Prior to working in real estate, Adam practiced immigration law and real estate law. His extensive background as an attorney and his broad real estate experience allow him to faithfully advance his clients’ interests in both the purchase and sale of real estate. Adam’s clients benefit from strong negotiation skills, contractual expertise, and deep knowledge of local rules and regulations.