The Bay Area is always known for its high price real estate as this rock star city tend to spend more money and collect from investors to buy homes and apartments. Due to extensive demand, the price is increased up to $1200, resulting a cost for 100 square foot home about $1.2 million. However the price in the recent time is dropping slightly about 1 to 3% from the past September and further 5% in November 2015.
However besides of the dramatic changes, the price is still too much such as $1,215 per square foot seems foolishness but finding that it was about $1,283 in October, it seems the market for the new homes could slide or flat a little.
San Francisco is a hub for tech professionals and ambitious workers who get heavy payouts, signing bonuses and good salaries. Definitely, a rising inventory can have a significant role in costing however the demand is also crucial.
However there are not many techies who make good money due to lack of companies that offer handsome salary or investors are not starting up with large amount of cash as it is expected to happen. It has been studied that large count of private firms finds troubles in increasing finances and the count of winning IPOs has declined.
According to professional San Francisco Real Estate agents the drop down in the bay area is not a much bad thing however if we consider that the rich tech workers are getting a measure of affluence of their companies, it is worthy to track the price of the real estate they choose.
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