Top Oakland, CA realtor, Brad Roemer, gives us a market update

Brad Roemer is a top Oakland real estate agent and businessman with over 11 years of experience. From the start of his real estate career he has worked for one of the world’s top agencies, Sotheby’s International Realty. While there, he was so good that he was placed in charge of 12 other real estate agents. Later on, he formed his own company along with his team of experts. Romer’s Alma Mater is from the University of California, Davis, where he earned his bachelor’s degree in Business Administration, Management and Operations. Following his University education, he got his certificate in Real Estate from Merritt College. He has a deep knowledge of the Real Estate market and has helpfully provided us with a market update.

 

A jump in prices due to limited supply

Home prices have been rising all over. The average increase this year for the nine-county region is about 11.6% above last year. If you look for the top performing areas, Santa Clara County stands out. It’s median sale price is almost 25% above the same time last year. Meanwhile San Francisco rose 15%, Alameda County property prices rose about 11.8%, Contra Costa 10% and San Mateo County 7.1% to name the top five. This marks the sixth year in a row with yearly price increases.

 

The root cause

All of this is happening primarily as a result of short supply. Silicon Valley has been making a lot of new hires and at the same time there hasn’t been any new construction. In addition, existing homeowners are not selling…they’re staying put. This means that more people are bidding on the few homes that are currently on offer, and all of them are competing to make the property theirs, pushing prices up. So that’s the update on the market trends.

 

We want to thank Brad Roemer for his contribution and if you want to know more, you can reach Brad Roemer on Facebook, Linkedin, or his website.

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