William Ng, Home Buyer in San Francisco, CA

Has home price been going up in the last 2 months in the bay area? My agent tells me that he feels the price are up 5% since Jan 2012.

Asked by William Ng, San Francisco, CA Thu Mar 8, 2012

That is a pretty big jump if it is true.

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It all depends on what parts of the Bay Area your agent is referring to. Yes, we have seen a jump up in prices as early as the 1st quarter of 2011 in SF but not in all neighborhoods. However, a 5% increase in 3 months seems a bit high in my opinion. Here is a link to the latest home values in different neighborhoods:

http://www.oggikashi.com/newsmonth/Values.html

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Web Reference: http://www.oggikashi.com
0 votes Thank Flag Link Thu Mar 8, 2012
Hi,
prices are heading upward and in some areas more than others but 5% seems high. Good luck

Buyer 50%-60% Cash Rebate / Seller 50% Commission Discount
Quality Full Service! Work directly with the Broker.
Flavio Tejada, Owner/Broker, Realtor, MBA-Finance
(415)305-2958
1 vote Thank Flag Link Tue Mar 20, 2012
Depending on who's talking, you'll find some people will tell you your house has gone up in value, while with the same breath, can tell you the house down the street sold for considerably less than it was once worth! The "old" standard was that on average real estate goes up in value about 5% per year. However, if you do a little research of your own, you'll quickly discover that this formula, as one bank executive pointed out to me today, no one knows how to read this market!

The bay area is a big place, comprised of nine counties, (generally), if you go north-east you'll find some cities that have maintained a downward trend in values -- check the county records and you'll confirm that; and yet, take San Francisco, and you'll find a bevvy of values -- high and low. So, 5% would be good, but don't count on it being factual until the check's in your bank.
0 votes Thank Flag Link Wed Mar 21, 2012
I wouldn't say that prices have increased 5%, but the lack of inventory for sale right now can make it feel like that - well priced properties are seeing multiple offers in some neighborhoods. This is not uncommon in our early spring market.
0 votes Thank Flag Link Fri Mar 9, 2012
Home prices around the peninsula and the south bay have been strong this year. I wouldn't say prices have gone up 5% in a month. That would be far too extreme, for virtually any neighborhood. I do feel that prices have gone up about 5% over last year at this time. Supply has been very tight and that has directly translated into higher bids.
0 votes Thank Flag Link Fri Mar 9, 2012
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