[Bay Meadows model townhome via TriPointe Homes]
San Francisco isn't the only stage set for condomania. We covered the fever for these units in Berkeley last week. And yesterday, the San Jose Mercury confirmed:Condos and townhomes, in short supply the whole Bay Area over, "are selling in record time with multiple offers, and new ones are being snapped up before there's even a model home to see," an assertion backed up by the recent crowd that collected at the still-in-progress Bay Meadows residential community in San Mateo.
Considered (wrongly or rightly) as an "affordable option" for first-time buyers, the median condo price has made bigger gains than that of the single-family home- not just in San Francisco- but in "all parts of the Bay Area." Despite the tight inventory, DataQuick records show condo sales at their highest levels since 2008. So, in a nutshell, condo buyers: Get thee in line.
· Your Monthly Analysis: Median Sold Price Trends for SF Condos [CurbedSF]
· Your Monthly Analysis: Median Sold Price Trends for Berkeley Condos [CurbedSF]
· Tight Inventory has Bay Area Condo Buyers Scrambling [San Jose Mercury]
· Bay Meadows Morphing [CurbedSF]
· Inventory: All Time Low [CurbedSF]