Bay Area September Sales Show No Sign of Seasonal Slowdown
September can be hit or miss for homesellers. Families have generally settled prior to school starting; people begin thinking about the holidays; rain returns to many landscapes. But the San Francisco Bay Area doesn’t suffer from any of these factors, at last not according to ZipRealty’s year-over-year data. In three categories—DOM, asking price, and selling price—the counties that compose the Bay Area are way ahead of where they were in September of 2011.
In every county tracked by ZipRealty within the San Francisco Bay Area (except Solano), there has been a decrease in days on the market (DOM) from September of last year.
(C) ZipRealty, Inc
Clearly, the most dramatic decreases show in San Mateo, Contra Costa, and Alameda counties. But the fact that the vast majority of counties report homes waiting fewer days to sell attests strongly to the competitive nature of this market.
As competition heats up, sellers know their homes are hot commodities. The result? An increased asking price. And in most cases, Bay Area sellers are getting that higher asking (or more). But first, the data on listing prices. As we see here, the sellers’ asking price went up—and went up double digits-- in most counties this September in comparison with September of 2011.
And Buyers Agree
Asking price doesn’t always equate with selling price, of course, but in this case, Bay Area sellers won again this September. Selling prices are up in every county year-over-year—and some strikingly so.
What’s next for these counties? The holidays and winter can cool off any market, but with performance like this, we wonder if anything can slow down the Bay Area. Talk to a local Realtor® who can help you get the best price, whether your goal is to sell or to buy. In the meantime, check out the most current MLS listings in the Bay Area.
Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert