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February 22, 2008
High-end home sales soar in Bay Area
I was recently asked by a Marin agent to crunch some numbers on the direction home prices were headed... The Chronicle seems to have come to the same conclusion about higher end homes, sales there are good....
While the overall average price for a home in the Bay Area continues to go up, the prices for lower and mid-range homes continue to decline... the sale of multi-million dollar homes is what's keeping the average up... That means the people who probably don’t care if the price of gas goes up a dime or if the electric bill is a few bucks higher will continue to buy...
Where prices go next will depend on interest rates.
Posted by Jeff Brooks on February 22, 2008 08:12 AM | Permalink
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