What Has Been Happening in Bay Area Real Estate?

California Real Estate Podcast with Prashant Vanka

A lot of people have been asking me lately about the Bay Area real estate market and whether we are in a market that’s better suited for buyers or sellers. The truth is, it depends on what price range you’re looking at.

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The luxury market is great for
buyers right now.

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In the luxury market, anything over $1.4 million is in more of a buyer’s market. We are seeing less and less multiple offer situations, and people are no longer bidding 10% to 15% over list price like they used to. If you’ve been thinking of buying in this segment of the market, it’s a great time to get a deal.

For homes under $1 million, with how low interest rates are and how strong the rental market is, it doesn’t make sense for anyone to pay their landlord’s mortgage. It makes more sense to buy a home by taking advantage of low interest rates and investing in your own equity.

If you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.