Wine Country Home Sales Show Strength in November

  Executive Summary: Following the Wine Country wildfires, home sales activity increased notably year over year in November, up by 13 percent in Sonoma County and by 24 percent in Marin County but down by 11 percent in Napa County. Also, sales were markedly up from October with 16 percent, 17 percent, and 23 percent increases in Marin, Napa, and Sonoma counties respectively. Typically, sale...

Bay Area Home Prices Soar in November

  Executive Summary: The Bay Area’s median home price increased 14 percent year over year in November, driven by strong appreciation in Silicon Valley. Sales of homes priced above $2 million grew by 72 percent in San Mateo and Santa Clara counties, 95 percent in Marin County, and 81 percent in Alameda County. These higher-priced sales were a big driver of the home price surge. General...

Real Estate Roundup: A Bay Area Home for Less Than $100,000?

 Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. STICKER SHOCK: BAY AREA HOME LISTS FOR $99,000 An East Bay home recently commanded plenty of attention due to its astonishingly low price tag, although it ended up selling for more than five times more than its list price. The most popular home on realtor.com’s website last week was a newly rem...

Pacific Union Joins Forces With Los Angeles-Based Gibson International

Pacific Union is pleased to announce that we’ve united with Los Angeles-based brokerage Gibson International, the next step on our journey to becoming the ultimate California company. Co-founded by President Scott Gibson and Executive Vice President Pat Heller, Gibson International adds 160 of Southern California’s top real estate professionals and a projected $1 billion of sales...

Pacific Union’s November 2017 Real Estate Update

Northern California’s inventory woes continued in November, with the number of homes for sale dropping on an annual basis in all Bay Area regions in which Pacific Union operates. Supply fell to a one-year low in Contra Costa County, Marin County, San Francisco, Silicon Valley, Sonoma County, and Sonoma Valley. Click on the image accompanying each of our regions below for an expanded lo...

U.S. Employment Rises in November, but Wage Growth Remains Weak

  Today’s U.S. employment report offered another solid month of job gains, with 228,000 positions added and the unemployment rate holding steady at 4.1 percent. November was the 86th consecutive month of job growth, and the gains were above experts’ expectations. There have been 2.07 million jobs created over the last year. Continued solid gains in employment coupled with steady...

Most Bay Area Housing Markets Are Not Overvauled

Home prices grew by 7.6 percent in California and 7.9 percent in the San Francisco metropolitan area on an annual basis in October. The San Francisco, San Rafael, Napa, Vallejo, and Oakland metro area housing markets are currently considered within their normal value ranges, while Santa Rosa and San Jose are overvalued. By 2022, all Bay Area housing markets except San Rafael are projected t...

Where Bay Area Homebuyers Are Paying the Biggest Premiums

Anyone who is shopping for a home in the Bay Area’s most coveted enclaves should be prepared for stiff competition from other buyers. As discussed in Pacific Union’s recent San Francisco Bay Area Real Estate and Economic Outlook to 2020, 65 percent of local homes have sold for more than asking price so far this year, up from 62 percent in 2016. To find out where homebuyers should...

Video: Highlights From Pacific Union’s Los Angeles Real Estate and Economic Forecast to 2020

On Nov. 29, Pacific Union held its first annual Los Angeles Real Estate and Economic Outlook for 2020 at the Skirball Cultural Center. The short video clip below features some of the event’s highlights, and or you can view the full, one-hour presentation here. Also, check out this analysis from Pacific Union Chief Economist Selma Hepp, which offers key takeaways from the event.