If you are in the market for a home in the bay area, you are definitely one of the better offs. As prices continue to climb, a bright prospect of more and more of the economy opening up, this year’s Spring housing market is expected to be quite hot.
In California alone, one interesting fact (as noted in the chart above) is that the higher price segments are seeing a much higher growth in sales volume than lower price homes. The rich are getting richer and the poor are getting poorer–that is an undeniable consequence of the pandemic.
Since the beginning of this year, we started to see condo sales pick up again and it’s actually keeping up with single family homes. For the most part, the $/sqft gap between condo/townhome and single family homes hovers at $100-$110 range. This gap has stopped widening and it’s an indication of condo prices starting to recover.
