The Robin Report
Bay Area Real Estate Market Update
The current Bay Area housing market is seeing a slight cooling compared to the craziness of the past few years.
Sales of single-family homes have seen a strong 6.5 percent increase year-over-year. The market is not growing as fast as it has been. It is still a seller’s market, with only 2.7 months of homes for sale. New listings stay on the market for an average of 13 days.
Bidding wars are less common than they were in the peak of the market. The median price in the Bay Area is $1,400,000, up 1% compared to last year.
One of the biggest factors influencing the housing market is mortgage rates. As of April 2025, the average 30-year fixed mortgage rate is around 6.83%. The prevailing expectation now is that they will remain at or slightly above this level.
This could spur more buyers and sellers to act sooner rather than later, as they aren't expecting rates to decline. People who have been sitting on the sidelines waiting for lower rates might decide to jump in now.
The Bay Area housing market is still competitive, but not as frenzied as it was a couple of years ago. The higher mortgage rates are having an impact, but the underlying demand for housing in the Bay Area is still strong.
We'll continue to see modest price growth in the coming months. It's a more balanced market than we've seen in a while.
If you are thinking about moving, Robin & Les can help you strategize the best approach for you.
Robin & Les Wrigley
DRE# 00853245, 00853244
650.483.7661
