greater bay area
Where you can find cable cars that climb halfway to the stars.
Welcome to the bay area
The Bay Area is also home to some of the world’s finest wine country, including Napa Valley and Sonoma, plus waterfront towns, dramatic beaches and the tech-savvy southern end of the Bay known as the Silicon Valley, where lunchtime ideas at Google, Facebook and Apple, turn into the next brilliant innovation.
THE ESSENCE OF BAY AREA LIVING
A small region of its own, the Bay Area still has distinct areas with their own attractions and cultures. The sub-regions of the Bay Area are described several ways, which may give the first time visitor the impression that the Bay Area is bigger than it really is. In fact, the unique geography of the Bay Area makes it relatively easy to get a sense of where you are.
- San Francisco: The de facto center from which directions to various regions in the Bay Area are made.
- North Bay: When you arrive, you cross the Golden Gate Bridge from San Francisco which includes Marin, southern Sonoma, southern Napa, and Solano Counties.
- East Bay: Lies across the bay from San Francisco, and includes Contra Costa and Alameda Counties. Oakland is the most populous city in the East Bay. Berkeley, Concord, and Fremont are also destinations.
- Peninsula: Stretches south down from San Francisco across San Mateo County and into the northern parts of Santa Clara County.
- South Bay: South of the Peninsula and the East Bay, includes most of Santa Clara County and is anchored by the most populous city in the Bay Area, San Jose.
bay area REAL ESTATE INSIGHTS
July 2021. The second quarter of 2021 continued to see extremely high buyer demand competing for a limited inventory of listings for sales. Condo sales volume hit a new high. Luxury home sales also hit a new peak. However, market activity did begin to slow in June, down from spring selling season highs, which is a typical seasonal trend.
Based on current trends, it appears that home prices in the majority of Bay Area cities will continue to rise through 2022. In May 2021, a large influx of buyers caused housing prices to rise over the last year. The median sales price of this region, which includes all nine counties of Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma, was $1,340,000 ($729 per Sq Ft). That’s a growth of 38.9%% from last May, according to C.A.R. It was the highest year-over-year gain in California. Bay Area house prices were also slightly up by 0.9% from the previous month. Sales of existing homes were up throughout California’s housing market.
The San Francisco Bay Area housing sales increased by triple-digits (104.6 percent) from last year, with five of its nine counties also growing by triple digits from a year ago. Inventory levels are very low. The months of supply of existing single-family homes have declined to 1.5 months as of May 2021. For buyers (who didn’t lose a job) low interest rates are making buying a home hard to resist.
Homes are selling for the above list price as new home buyers are willing to pay more to win bids. Only those who do not have enough money for a down payment are holding back. Looking at the low supply of homes, interested investors may have a difficult time finding available properties in the Bay Area. New record median prices were set in all major regions in April. Nine out of ten Bay Area counties posted double-digit gains in the home prices as compared to last year except for Marin, which had the smallest price growth of 8.8%.
Buyers appear to be looking for extra space in homes, which is pushing up median home prices in suburban areas like Santa Clara, San Mateo, and Contra Costa counties. Although home prices grew in all the counties six counties posted annual growth of more than 20%. Contra Costa county topped the list with price growth of 47.1% as compared to last year. It was followed by Alameda (37.4%) and San Mateo (25.8%), and Napa (24.5%).
Sales Price to List Price Ratio in Bay Area was 109.3% in May signaling a very competitive market. Anything over 100% gives sellers an upper hand in price negotiations. The housing supply remains tight. The unsold inventory index now sits at 1.5 months, which means it would take less than six weeks to squeeze away all the listings from the market at the current sales pace. Months of supply has seen a sharp decline from last May when it was 3.8 months.
the people and lifestyle
From the Internet and biotech to filmmaking and music — science, industry, and art all intersect in the Bay Area. Some of the most well known companies reside here (Pixar, Lucas Films, Genentech, Google, and Apple) and it is home to several of the best universities and research centers in the world.
So it’s no surprise that the types of people that settle in the Bay Area reflect the characteristics that drive these industries: they are smart, creative, entrepreneurial, industrious, and inventive. They come from the four corners of the earth to work, to study, and to live.
The Bay Area is also very diverse with long-standing immigrant communities from places as far-flung as Kabul and Beijing. Contra Costa County is no different and, while mostly native born, has significant Asian and Latino populations. In fact, more than a quarter of the people who reside in Contra Costa County speak another language besides English at home.
Variety makes California such a desirable place to live. Whatever your interest, you’ll find others who share your passion. The Bay Area lifestyle is active, community-focused, and usually involves great food and plenty of opportunity for good fun.
insider tips
There is very little in the way of words to speak about our Bay Area. Temperate year round climate and weather, cultural diversity, world class dining, the hub of medical and technical innovations, abundance of recreational distractions ranging from indoor to outdoor activities – year round, and a population focused on working hard and living a healthy and bountiful lifestyle. No wonder the Bay Area is consistently one of the top destinations for travelers year after year.
work with us
We offer the highest level of expertise, service, and integrity.
Ernie Martinez is one of the leading real estate agent in the Bay Area and has helped numerous buyers find their dream home, resulting in dozens of satisfied clients over the last 8 years.
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