I came across an article on Realtor Magazine’s website which lists eleven cities where homes sell the fastest. This entry may make a few of you who live in these areas and plan on selling you home particular happy. Interestingly, many of these cities— Oakland, San Francisco, Los Angeles, Bakersfield, San Jose, and Fresno—are located in California. Since most real estate market analysts expected for this state’s housing market to recover faster, I wasn’t surprised. As a matter a fact, I predicted that affluent cities such as San Francisco and Los Angeles would have a speedy recovery. I guess I was right. After all, rich people with money to spend tend to prefer homes in these areas over less glamorous cities such as Bakersfield.
What surprised me the most about this article was that Oakland, California placed first— homes are on the market for just 50 days. Now that I think about it, this is probably due to the fact that people working in the “Silicone Valley” create a demand for affordable homes. Keep in mind, the median list price here is about $319,00—compare this to San Francisco where the median price is an astounding $639,000. Buyers looking for homes in northern California can get a great deal in Oakland.
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