SAN FRANCISCO, Calif. (KRON) – The price of a home in the Bay Area continues to rise.
A recent study says that in Contra Costa County alone, home prices were up nearly 20% in the past year.
Realtors say homes in the Bay Area are going fast, and for a high ticket price, due to low-interest rates, a lack of inventory, and intense demand.
“We’ve hit a new foundation here in terms of pricing and inventory in the Bay Area. We are not building enough houses. We are not building enough apartments which helps the rental market which affects the sales market, so we are kind of at a new plateau. I don’t see the prices coming down much in the near future,” said real estate broker Mark Ross.
Based off of a simple Zillow search, there are about 3 dozen single-family homes for sale in Walnut Creek right now.