The Bay Area is the best market in the country for home sellers

If you live in the San Francisco Bay Area then Zillow’s latest report highlighting the advantages of selling one’s home in this market won’t surprise you. As anyone following the real estate market is acutely aware, the strong appreciation of housing prices has created a lopsided market favoring sellers. Now, the Zillow report confirms that the Bay Area market outstrips all other regions in advantaging the seller over the buyer. The Zillow methodology focuses on the percentage of price reductions for active listings and the total time it took for homes to sell. Within the SF Bay Area 5.4% of listings experienced a price reduction and sat on the market an average of 51 days. Nationwide, however, 7% of listings experienced a price reduction and properties remained on the market, on average, a total of 90 days. While the market still clearly favors sellers, there are market indicators pointing to greater normalization and parity. As interest rates have risen, demand and competition among buyers have abated slightly. More time is needed, however, to determine if the trend towards a more balanced market will continue or if this simply represents a current plateau.

Read the full article here: SF Bay Area: Best Market for Sellers

About the Author

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.