Voracious demand driving record sales in ‘mansion’ bracket.
Courtesy San Jose Mercury News by Steve Johnson and Pete Carey
There was a time when a million-dollar home was something families drove by on a Sunday outing to get a glimpse of how rich folks lived. But now they’re more common than Starbucks, at least around here.
Fueled by the booming tech economy and seemingly insatiable demand for housing, the Bay Area set records in the second quarter of this year in the number of homes sold for $1 million or more as well as those costing at least $2 million, a real estate information service said Thursday.
CLICK HERE for the full San Jose Mercury news article.
Courtesy Pete Carey San Jose Mercury News, July 16, 2014
Soaring single-family home prices in much of the Bay Area are near or above pre-crash peaks — and topped $1 million in San Francisco for the second month in a row — according to a report released Wednesday.
The median sale price of single-family homes sold in June in the nine-county Bay Area was only 8.6 percent off a 2007 peak of $675,000, according to the real estate information service DataQuick.
“The Bay Area is leading the way in price recovery and has for a couple years now, because it’s seen relatively strong job growth,” said Andrew LePage of DataQuick.
CLICK HERE for the full San Jose Mercury News article.