You had better move fast if you want to buy a home in these spots

You had better move fast if you want to buy a home in these spots

Burlingame tops the list with homes in San Mateo County selling in an average of 13 days in the second quarter. Over the past three years, Burlingame homes have never stayed on the market longer than 24 days. Check out all of the Bay Area's fastest-paced housing markets on the Pacific Union Blog.

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Bay Area Luxury Home Sales Doubled in February

Executive Summary:

  • 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.