June 27, 2017

U.S., Bay Area Home Prices Hit New Record Highs in May

Intense demand for housing coupled with supply constraints pushed U.S. home prices to an all-time high in May, with properties leaving the market faster than ever before.

 

  • Both existing and new U.S. home prices surpassed their all-time peaks in May, a respective $252,800 and $345,800.
  • Home prices in the nine-county Bay Area climbed to $818,000, also a new high.
  • Homes in Silicon Valley sold in less than four weeks in May and are frequently subject to bidding wars.

 

To read the full post, click here: http://pacunion.us/2tfMakb

 


About The Mark Company

The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences and The Austin in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the eighth-largest residential real estate brokerage in the U.S. based on 2016 sales volume of $10.15 billion. Pacific Union merged with Los Angeles-based brokerage John Aaroe Group in December 2016. This strategic business collaboration links three of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $10.1 billion by 1,161 real estate professionals in 38 offices throughout California. For more information, please visit www.themarkcompany.com.