Contra Costa County, including San Ramon, leads the surge with an increase of 27% over September 2011 says real estate data and news source DataQuick…
For the entire Bay Area the overall increase was 17.5%. And although every County recorded an increase in median price, San Francisco and Contra Costa Counties led the price increases with the other Counties having smaller gains. It is still a question of certain markets being hotter than others and we expect this trend to continue as prices continue to improve.
“It’s obvious that a lot of fence-sitters are getting active. We’re probably past that most attractive of mathematical sweet spots, the one that combines low interest rates and low prices. In other words, price increases the past few months outweigh mortgage rate declines. Potential buyers are also encountering fewer homes for sale. Additionally, going through today’s qualification process for a mortgage is still a real grind,” said John Walsh, DataQuick president.
Now is still the perfect time to buy or sell your home. The short reasoning is buy because prices are continuing to trend up and sell because of the limited inventory. If you want to discuss in more detail, please reach out to me, I can help you!