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Sales of Bay Area homes priced above $3 million doubled in February, with most local regions posting large gains.
Sales of homes priced higher than $1 million also continued to grow.
Regionally, East Bay sales slowed, while Silicon Valley and the Wine Country saw more sales this February.
The Bay Area median price jumped another 16 percent year over year, though high-end sales drove a large part of the increase.
Buyer demand is not abating amid market challenges. Seven in 10 Bay Area homes sold for more than asking price, with the average premium increasing to 12 percent, up from 8 percent premiums observed in the last two Februarys.
Thirty-year, fixed-rate mortgages reached 4.46 percent as of March 8, 2018 according to a Freddie Mac survey, the highest since the spring of 2014.
Compass | 1300 First St., Ste. 462 | Napa, CA 94559 |
Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01866771. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. This is not intended to solicit property already listed.