\n\n \n\n\n","author":{"@type":"RealEstateAgent","name":"Michelle Kim","url":"https://mosaikrealestate.com/team","image":"https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85,fit=scale-down,width=960/https://media-production.lp-cdn.com/media/vdtksgqfx4qdusvaihlu","telephone":"(415) 205-0742","description":"Meet Michelle, the top producer and founder of Mosaik Real Estate, who is a triple threat in the industry, known for her hardworking, knowledgeable, and trustworthy approach, which has earned her a stellar reputation among her clients. With a wealth of experience in sales and a background in the title and escrow field, Michelle is committed to providing a full-service experience that exceeds expectations and leaves both buyers and sellers totally satisfied. As a bilingual agent fluent in English and Korean, Michelle is a focused communicator, an able advisor, and a fierce-yet-fair advocate for her clients. From guiding first-time buyers with her market insights to helping Korean and foreign investors build their real estate portfolios, to using her strong negotiation tactics and seamless marketing offerings to assist sellers, Michelle consistently receives high praise from those who have traversed San Francisco’s complex marketplace. As a mother of three children and a Bay Area native, Michelle is passionate about the cultural, recreational, and social opportunities that San Francisco offers. Her firsthand experience raising a family in the Bay Area makes her an extraordinary resource for parents of young children. Overall, Michelle’s expertise, dedication, and unwavering commitment to delivering exceptional results make her an indispensable asset to her clients, who are consistently impressed with her unparalleled service and outstanding results.","priceRange":"$","address":{"@type":"PostalAddress","streetAddress":"580 4th Street","addressLocality":"San Francisco","addressRegion":"CA","postalCode":"94107","addressCountry":"US"}},"publisher":{"@type":"Organization","name":"Mosaik Real Estate","logo":{"@type":"ImageObject","url":"https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85/https://media-production.lp-cdn.com/media/ixpurfmka7zayzy64wag"},"address":{"@type":"PostalAddress","streetAddress":"580 4th Street","addressLocality":"San Francisco","addressRegion":"CA","postalCode":"94107","addressCountry":"US"}}}
michelle December 23, 2020
Did you see our last “Year In Review” post? This week, we continue the series with a look back on how the COVID-19 pandemic has affected Bay Area home prices.
While this overview is intentionally high-level, you should certainly get in touch with specific questions about your part of the Bay.
Anyway, let’s start with a look at San Francisco…
San Francisco housing prices traditionally have withstood economic crises. For the most part, this remained true in 2020. As you can see below, both single-family homes and condominium values in SF dropped between April and May, before recovering in the early summer. Prices have since flattened out again in the months since July, but we expect them to recover again in 2021 as more professionals seek a return to the city.
On the other hand, housing prices in the South Bay and Peninsula have climbed steadily throughout 2020. While this sub-region has been affected by the tech exodus from the Bay Area, it has also benefitted from the relocating San Franciscans. Expect this growth to continue as normal economic activity resumes in 2021.
But more so than any other Bay Area sub-region, East Bay home prices have benefitted the most in 2020. Because of plentiful starter home stock and low mortgage interest rates, many SF renters have made the move east to purchase their first home. We are certainly bullish about East Bay home values in the long term. In the short term, however, we expect prices to flatten a bit in 2021 as young tech workers return to San Francisco.
We’ll be back next week to close with Part 3 of this “Year In Review” series. In the meantime, we hope you and your loved ones are continuing to enjoy a safe and joyous holiday season!
And again, if you have any questions, please get in touch:
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