This article has been updated to reflect the latest trends in the San Francisco Bay Area housing market. Motivated home buyers drove prices and sales up in March 2021 in a tight housing market. The Bay Area real estate market is hotter than ever. In March, it had the highest year-over-year sales gain in California, at a growth rate of 35.0 percent from March 2020, C.A.R. reports. The median sales price of this region, which includes all nine counties of Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma, was up by 21.3 percent as compared to previous March. [Read more…]
The Las Vegas housing market is sizzling hot. Home sales are higher than last year's levels, and prices are setting new records. The inventory is declining month-over-month and can't meet the demand. The housing demand is also feeling the pressure as people continue to flock to Las Vegas from higher-priced areas, especially Southern California. According to industry experts, this trend has accelerated during the pandemic setting the highest pace for home sales in the area in 14 years.
The Austin housing market is soaring. With demand up and few houses to choose from, the Austin home prices are soaring and the buyers have to bear the brunt. Its rapidly expanding economic industry is driving more people into the city which is increasing the housing demand. Low inventory, high buyer demand and rising prices will continue throughout the year, creating a competitive market.
Will Denver's housing market continue to be sizzling hot in 2021? The average price for single-family detached homes in the Denver Metro was $674,990 in March. The median price was $560,000, up 15% YoY and 5.66% MoM. Detached homes saw a 27 percent increase in closed sales while attached homes saw an 11.62 percent decrease in closings relative to February, according to a recent report released by the Denver Metro Association of REALTORS®.
We will discuss the latest Houston housing market trends. The Greater Houston housing market recorded its ninth consecutive month of positive sales. It also set a pricing record for single-family homes in February. Home prices are soaring amid low inventory and low-interest rates.
Every housing segment priced at or above $250,000 saw a double-digit year-over-year percentage increase in sales in February. Some buyers are hitting the market to find they can't compete with all-cash offers. In the upcoming spring season, the agents risk having extremely tight inventory for buyers especially with the prospect of rising mortgage interest rates.