Weekend Events and The Weekly Real Estate Update

March '16 - It's Friday

Happy Friday! Check out the Union Street Festival this weekend, Saturday, June 4 and Sunday, June 5 on Union between Gough and Fillmore. Over 100,000 people are expected to attend this popular event which is now in its 40th year. More information on the event can be found here.

OminoDay also takes place this Saturday – a free day-long outdoor music festival. Expect some of the Bay Area’s hottest DJ’s and live mural and graffiti painting from 10am to 5pm. Take a look at the details of the event right here.

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 5/29/16 – 6/4/16:

CoreLogic real estate reports are often quoted in the media, and it sometimes creates some confusion. The organization’s figures are for the San Francisco Bay Area as a whole, but the reports are sometimes misconstrued to be focused solely on the City. Lag times can also be problematic and misleading. What happened in April may or may not be what’s happening today.

In any event, CoreLogic’s latest report says that the median price for homes in the Bay Area rose 4.1% in April – the 49th consecutive month that the median price has risen on a year-over-year basis.

However, it might be worth noting that, according to Bloomberg.com, Silicon Valley in the South Bay is seeing a pullback by the wealthiest homebuyers after a four-year real estate boom marked by bidding wars and multimillion-dollar prices. Stock-market volatility, a drop in foreign investors and concerns about a technology-industry slowdown are cooling demand at the high end according to the Bloomberg report.

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