California Added Jobs at The Fastest Rate in 2017

California Added Jobs at The Fastest Rate in 2017
  • Job reports for both California and the U.S. show strong growth so far in 2018.
  • According to data from the U.S. Bureau of Labor Statistics, America added 313,000 jobs in February, the strongest monthly gain since July 2016. Over the last three months, there were an average of 242,000 jobs added per month, and the annual total reached 2.281 million in February. Some experts warn that mild February weather could have helped boost employment and that the country’s labor market will see a pullback in March.
  • Job gains were broad-based across many sectors, including professional and business services, leisure and hospitality, trade and transportation, and education and health services. The

Bay Area Luxury Home Sales Doubled in February

Bay Area Luxury Home Sales Doubled in February

Executive Summary:

  • Sales of Bay Area homes priced above $3 million doubled in February, with most local regions posting large gains.
  • Sales of homes priced higher than $1 million also continued to grow.
  • Regionally, East Bay sales slowed, while Silicon Valley and the Wine Country saw more sales this February.
  • The Bay Area median price jumped another 16 percent year over year, though high-end sales drove a large part of the increase.
  • Buyer demand is not abating amid market challenges. Seven in 10 Bay Area homes sold for more than asking price, with the average premium increasing to 12 percent, up from 8 percent premiums observed in the last two Februarys.
  • Thirty-year, fixed-rate mortgages reached 4.46 percent as of March 8, 2018 according to a Freddie Mac survey, the highest since the spring of 2014.

Bay Area Companies Dominate List of 2018’s Best Tech Workplaces

Bay Area Companies Dominate List of 2018’s Best Tech Workplaces

 

  • Nearly 75 percent of the best tech companies to work for in 2018 are headquartered in the Bay Area.
  • San Francisco-based Salesforce.com tops the list after also ranking No. 1 on a list of 2017’s best overall workplaces.
  • Adobe, Facebook, and Google also rank in the top five for best tech work environments.

Bay Area tech heavyweights not only create innovative products that change the world, they also provide their employees with an overwhelming sense of satisfaction.

That’s according to job portal Indeed’s list of the 15 top tech companies to work for in 2018, based on nearly 18 million employer reviews on its website. Perhaps not surprisingly, 11 of those tech firms are headquartered in the Bay Area — the vast majority in Silicon Valley.

Real Estate Roundup: Silicon Valley Home Prices Soar in the Fourth Quarter

Real Estate Roundup: Silicon Valley Home Prices Soar in the Fourth Quarter

HOME PRICES HIT NEW PEAKS IN TWO-THIRDS OF U.S. REAL ESTATE MARKETS
More than 90 percent of U.S. housing markets saw annual price growth in the fourth quarter, with the San Jose metropolitan area leading the country for appreciation.

That’s according to the National Association of Realtors’ latest quarterly report, which puts the median sales price for an existing U.S. single-family home at $247,800 in the fourth quarter, up 5.3 percent on an annual basis. Prices rose year over year in 92 percent of measured markets, and 64 percent reached new all-time highs in the fourth quarter.

Silicon Valley Earns High Marks for Education in 2018

Silicon Valley Earns High Marks for Education in 2018

While high-paying and plentiful tech jobs are fueling buyer demand for Silicon Valley homes, the fact that the region’s public schools consistently rank among the best in the state is also a big draw for families.

That’s according to Niche.com’s annual rankings of the best public-school districts in California. The company gauges school quality using 10 criteria — including academics, teachers, extracurricular activities, and sports  — then assigns each school district a grade. Niche.com also factors in parent and student reviews on its website when ranking school districts.

As in last year’s rankings, three Silicon Valley school districts are at the head of the class, all receiving overall A-plus grades. 

Bay Area Claims Four of the Five Priciest U.S. Real Estate Markets in 2017

Bay Area Claims Four of the Five Priciest U.S. Real Estate Markets in 2017

In what will come as little surprise to anyone who regularly follows Bay Area real estate, four local communities rank among the most expensive real estate markets in the country this year.

That’s according to Forbes’ annual list of America’s most expensive ZIP codes, which uses a 90-day rolling average for the period ended Oct. 27 and includes both single-family homes and condominiums. Atherton‘s 94027 is once again the nation’s most expensive place in the U.S. to buy a home, with a median sales price of $9,686,154. The San Mateo County city had held that title for several years running before losing it to Manalapan, Florida last year, which took the No. 2 spot on this year’s list.

Why Do Bay Area Homeowners Sell, and Where Do They Move?

Why Do Bay Area Homeowners Sell, and Where Do They Move?

A lack of homes for sale is the Achilles’ heel of Bay Area housing markets. Industry experts and economists have consistently discussed falling inventory levels since 2012, when most of the region’s distressed inventory was absorbed. Since then, inventory levels, while fluctuating, have been on an almost constant decline. Over the last year, the monthly year-over-year supply decrease averaged 7 percent in the Bay Area. More importantly, affordable homes are disappearing at double that rate.

Luxury Segment Heats Up Bay Area Housing Markets

Luxury Segment Heats Up Bay Area Housing Markets

The first half of the year ended on a strong note for Bay Area housing markets, with 2 percent more sales in the first six months of the year when compared with last year. The East Bay saw the largest increase in sales activity, up 4 percent, while San Francisco followed with a 3 percent increase. San Francisco’s improving housing market conditions are particularly encouraging given the lull that the city faced last year.

Sizing Up the Competition: How Many Offers Are You Betting Against?

Sizing Up the Competition: How Many Offers Are You Betting Against?

Pacific Union’s recent second-quarter real estate reports showed that Bay Area housing markets are sizzling again, and buyers are facing tough competition. Overall in the Bay Area, 6 in 10 homes sold over the asking price in the second quarter, while in Alameda and San Mateo counties, almost 8 in 10 homes sold over the asking price. Naturally, some price ranges were in greater demand than others. For example, in the East Bay, competition increased for homes priced up to $2 million but cooled off for higher-priced homes.

Changing of the Tide?

Palo Alto has always been fashion-forward when it comes to real estate trends. Having worked in residential real estate in this area for 8 years, I have found that the Palo Alto housing market serves as a compass when it comes to trying to predict the next real estate pattern. Over time the neighboring cities, Menlo Park, Los Altos, Redwood City and San Carlos, will often mirror the market ebbs and flows experienced in Palo Alto.