East Bay home sales are averaging less than 30 days on the market and continue to see a significant increase in median price.
East Bay home sales and migration trends may partially rely on shifting values and finances. Living in the city has numerous benefits, including a shorter commute and access to shops and restaurants. People searching for a home have been more likely to look outside the city for their next home. Recent statistics show an increase in buyers who prefer East Bay homes.
In Marin County, the median home price was $1.55 million in the third quarter of 2020, compared to $1.28 million last year, a 21% year-over-year increase. In Santa Clara County, the median price for a single-family home in the third quarter was $1.4 million, up from $1.24 million in 2019. Both indicate a desire for bigger homes outside of the City. These are stats from Compass’s Chief Market Analyst Patrick Carlisle.
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