Average entry-level single family home prices in the San Francisco Bay Area are the highest here in California at $482,830. With an increasing demand for homes, and all time low inventories, prices are expected to inch even higher in the near future. In Contra Costa and Alameda Counties, first time home buyers find themselves having to compete with experienced investors, who often pay all cash when purchasing homes.
Just like it was in the early 2000s, buyers who sit on the sidelines hoping for home prices to drop will find themselves priced out of the market. We, as local realtors in the East Bay, are advising our clients to purchase a home now, as prices are on the way up. If you are serious about buying a home, start by signing up to receive new listings by email from a local realtor who has access to the local MLS (Multiple Listing Service). Home buyers will need to be pro-active in their search for homes, since many are listed and sold in less than a week. One of the best ways is to join forces with a local realtor to avoid missing out in this rapidly moving market. Having a realtors expertise gives a chance of getting the home you want before it gets snapped up by another buyer.
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