Reporter- San Francisco Business Times
In case there was any confusion, rest assured we are in a seller’s market: the Bay Area was home to the nation’s best market for home sellers in 2013.
According to ZipRealty Inc., the Emeryville-based online real estate brokerage, the San Francisco metro area was number one on its top 10 list based on median sales price and total housing inventory per capita.
Here’s how the Bay Area compares with the rest of the country:
- Median sales price growth: 35 percent growth in 2012 vs. 11.5 percent.
- Number of days homes stayed on the market: 19 vs. 35.
- Average number of homes available per resident: 1.1 vs. 6.6.
The law of supply and demand just doesn’t let up. Low inventory of homes on the market equals soaring prices not just in the Bay Area, but other California regions as well. Five of the top ten markets for home sellers were in golden state.
“The real estate markets in the western region soared compared to the rest of the country in 2013, based on data we compiled over the past year in our Housing Trends Report,” said Lanny Baker, CEO of ZipRealty. “While we expect these metros to outperform once again this year, it should be at a more measured pace.”
Here is the top 10 list nationwide:
- San Francisco Bay Area
- San Diego
- Las Vegas
- Orange County
- Los Angeles
- Washington, DC/Northern VA
Blanca Torres covers East Bay real estate for the San Francisco Business Times.