Defying the odds of a market correction, and driven by historically low interest rates, exceedingly low inventory, and a plethora of cash rich high income buyers fleeing Silicon Valley and San Francisco bidding up prices on the few homes for sale.. Averages sales prices in the East Bay January 2020 to January 2021 up over 20% in several cities in the East Bay.

Some highlights in January 2021: Danville average sales price over $2 million for the first time. San Ramon just 11 houses for sale in January, homes selling at 106% above list price, with average sales price $1,450,531. Pleasanton sales increased 117% in January 2021 compared to January 2020. Dublin’s market is exceptionally hot, just 8 houses for sale in a city of 60,000 people, homes selling 106.56% above asking price, and home prices up nearly 25% January to January. Livermore is also hot. Only 19 active listings in a city with nearly 90,000 people. Average sales price $1,082,238 with a 17.47% price increase January to January.

In any of these areas, be prepared to bid significantly over asking price if you are buying a home. Will passage of Prop. 19 compel investors to put homes on the market.

https://jeffkatzhomes.com/home-worth/ to get an approximation of your home’s current market value!

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