San Francisco Bay Area Market March 2021 Update

San Francisco Bay Area Market March 2021 Update

With the daylight saving spring forward and the warmer weather, it definitely feels like we are out of the winter season completely. The real estate numbers seem to reflect the same. Sales volumes and prices are up in almost all counties in the Greater Bay Areas with just a few exceptions. Listings are still flying off the shelves and they are going pending just a few days after being on market with multiple offers.

Even though interest rates have been increasing from the lowest points in 2020, there are still many qualified buyers out there looking for a new home in this market. We continue to see increasing supplies as sellers have waited for the winter to be over and prices to go up, but it is not enough to keep up with the heightened demand. Condo prices have started to bounce back as well as buyers are being more optimistic about the reopening of the economy after seeing the successful vaccine roll out. This may be the last chance to take advantage of the COVID price drops before our lives completely go back to “normal”.