California home prices hit record high, and buyers are moving fast Listen 51 min An aerial view of large homes in Central Los Angeles, California. USA. Photo by Shutterstock.
In the Golden State, the median home price is $758,990, which is up nearly 24% from a year ago, according to The California Association of Realtors.
Prices have hit a record high due to an explosion of demand, and people are purchasing homes faster than ever, says Andrew Khouri, who covers the housing market for the LA Times.
When prospective buyers come to their appointments to view properties, many arrive with a pre-approved mortgage letter in hand, he says. “A homebuyer explained it to me as thinking it was kind of like speed dating. But you re expected to get married at the end of this right? And that s nerve racking for a lot of people.”
Buying a home in California is like speed dating, as demand explodes Listen 8 min An aerial view of large homes in Central Los Angeles, California. USA. Photo by Shutterstock.
If you want to buy a house in California, good luck. The median home price is $758,990, which is up nearly 24% from a year ago, according to The California Association of Realtors. And in March, it took eight days on average to sell a single family home, compared to 15 days in March 2020.
Prices have hit a record high due to an explosion of demand, says Andrew Khouri, who covers the housing market for the LA Times.
Sales average over 10% above asking price last month
Uploaded: Thu, Apr 29, 2021, 3:04 pm
Homes in Pleasanton are selling for significantly more than their list price and in record time.
Is this sustainable? One local real estate expert says yes. Every time I think there s going to be a little bit of a break, you hear more stories of crazy multiple offers, said Pleasanton Realtor Jennifer Branchini, the 2021 treasurer for the California Association of Realtors. Unless we get a ton of inventory, the fierce competition is going to persist for a while longer.
The median sales price for a single-family detached home in Pleasanton has exceeded $1 million each month since 2016. During March 2021, the median price was $1.53 million.
Escrow Out Loud Release Three-Part Podcast: Racism in California Real Estate
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Celebrating five seasons of podcasting about San Francisco real estate, Escrow Out Loud releases 3-part Podcast Series About Racism in California Real Estate.
Escrow Out Loud San Francisco Real Estate Podcast
If you re serious about understanding racism in California real estate, these podcasts are a great place to start. SAN FRANCISCO (PRWEB) April 28, 2021 Escrow Out Loud, the podcast about San Francisco real estate from co-founders Matt Fuller and Britton Jackson of Jackson Fuller Real Estate, has released a three-part podcast series that looks at racism in California Real Estate. Prop 14: The California Fair Housing Massacre of 1964, One Community Activist & Four REALTORS® Discuss Racism, and Real Estate Racism in 2021 with Nate Johnson are all available for immediate download on leading podcast apps and stores.