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Posted on August 9, 2018 - 11:27 AM
by Rene Ferland
The market continues to be robust, but certain cities and price sectors are changing. I'm beginning to see price reductions for some East Bay homes, which were possibly too aggressively priced. Condos and starter homes are in short supply. The number of sales has dipped slightly, but the median price in the 9 Bay Area County regions is up 12.9% from June of last year, perTheSan Francisco Chronicle.There is just not enough inventory for the number of home buyers in the market. According to The Chronicle, 6400 technology jobs were added in the San Jose and San Francisco metro areas. Until there is a softening in the job growth, we should continue to see continued gains in home prices.
Below is a look at the number of homes For Sale and Pending in our local market.