Price spike coming?

[gzz]

Rich’s last market report showed inventory levels at 4 year lows. Prices went up only 7% over the prior 12 months.

I checked my local market, condo inventory is less than 1 month of prior month sales. 3-6 months is considered normal, but here it is less than 1.0.

I also noticed that the 1.2m+ market, which normally moves more slowly, really picking up.

[spdrun]

If anything, the bottom end hasn’t changed much, the top end is still selling. The market has actually become slightly more bottom-heavy in the last few months.

[flyer]

We’ve also been seeing the positive high end trend in our neighborhood and in LJ and Sunset Cliffs, etc. where we have friends and family, gzz.

I think a lot of us hope, that, regardless of who the president is in the coming decades, CA real estate will continue to explode, but I’m sure we’ll eventually see riots about that, too, as more and more people are priced out of the market.

[matt]

Not not so good, however, for those of us that would have liked to pick up 1-2 more properties in the coming years…

[flyer]

Granted, it is more difficult to get into investment properties today than when we did, but we were not competing with buyers who are now here due to explosive business growth and jobs or foreign buyers.

These factors make it a far more competitive market today, which will, most likely continue, going forward.

[Author]

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