San Francisco Hits Million-Dollar Median Home Price, Just In Time For 'Million Dollar Listing' TV Show To Arrive
In your either horrifying or glorious (depending on who you are) residential real estate news for the day, here's what you need to know: the median price for a home in San Francisco is now one million dollars. The average asking rent for a San Francisco apartment is $3,229. Tech shuttles might be responsible for the increases in one or both of those figures. And reality TV cameras will be here to record the whole thing. Read More>
Plummeting inventory of homes for sale accompanied by a new wave of tech workers have San Francisco’s rental and real estate markets continuing to boom.
The average monthly price of an apartment lease has risen to $2,734 — up 12.9 percent since 2011 — according to data compiled by the rental data firm Real Facts. The spike in San Francisco rents seems to be spilling over to cheaper markets like Oakland, where the average rent is now $1,835 — up 14.4 percent since last year. Pacifica, where rents now average $1,908, has experienced a 15.6 percent increase. Read More>
The cost of renting an apartment in the Bay Area continues to soar, despite a raft of new complexes coming onto the market.
The average asking rent in the nine-county Bay Area hit $2,158 a month in the second quarter — an increase of 5.6 percent from the first quarter and 10.3 percent from the second quarter of last year, according to a survey by RealFacts. Read More>
Bay Area apartment rents reached a record high in the second quarter, according to a report Tuesday, continuing a three-year run of steady increases that's setting off alarms among economists and corporate leaders.
Rents averaged $2,158 a month in the nine-county Bay Area, a nearly 20 percent gain since the second quarter of 2011, and a 10.3 percent jump from the same period last year, according to Novato-based RealFacts. Rents were up 5.6 percent from the first quarter. Read More>
Pacific Urban Residential has acquired the 1960s-era Park Towers Apartments in Palo Alto, paying roughly $36.5 million, or $405,000 per unit for the 90-unit building that's comprised entirely of studios.
This is the first time the six-story building, at 535 Everett Ave., has sold since 1990 when it traded for $6.95 million, or $77,000 per unit. The seller was a private investor.
How much should Silicon Valley renters be paid when they get kicked out of their homes by landlords looking to cash in on the region's frenzied housing market?
Somewhere between $6,918 and $13,290, according to a proposal currently working its way through the City of Mountain View. Read More>
As developer Madison Park Financial wraps up work on Lampwork Lofts, Oakland will be left with no major market-rate housing — condos or apartments — under construction.
Apartment booms are underway in nearby cities like San Francisco with more than 5,000 units under construction and in Emeryville, Oakland’s tiny neighbor to the north, where about 360 apartment units are under construction.