Housing market report for January 2022: Bay Area

Flyhomes

3 years ago

January 2022 highlights

The Bay Area is experiencing a period of adjustment that is a likely response to the new year and the predicted rise in inflation. Sale prices are down, though not by much. And list prices are on the rise as competition seems to be rising heading into the end of the slow winter season.

List prices rose to meet demand List prices were considerably lower last month, but as inflation heats up and competition remains steady, sellers are seeing an opportunity to garner higher offers. At $1,644,000, list prices are up almost 35% over last month.
List prices are reflecting the increasing demand A spike in list prices over last month shows that sellers noticed that sale prices were well above asking. This month, sale prices dipped but not enough to even out the sale-to-list-price ratio as homes were still selling for 116% of their asking, at $1,650,000.
Three different areas of the Bay Area saw a decline in sale prices San Francisco proper, the East Bay, and the Peninsula all saw declines in the average selling price for single-family homes and townhouses.
Homes in the Tri-Valley region experienced the largest spike in prices Both single-family homes and townhouses experienced the highest increase in the Tri-Valley area, at over 12% growth from $1,550,000 to $1,7550.
The East Bay remains the most affordable area for buyers The price of homes in the East Bay region dropped by over 7% in January from $1,087,500 to $1,007,500, well below the next most expensive area in the South Bay, at $1,500,000.

See previous months’ highlights

Competition report

Our research team analyzed the competition in select local areas.