Editor's Note: San Francisco Bay area real estate expert Olivia Hsu Decker talks about the latest in the market.
Now that Summer is close to ending, what do you see as the takeaways from the last six months?
The last six months, we experienced a migration from urban to suburbs, many city families moving out of high rise luxury condos or the city homes to the suburban homes with large gardens, pool, and spacious homes for Shelter-in-Place. Since the lockdown 6 months ago, people are equipped to work from home. There is no longer a need to work in the offices in the City. I think at least 35% of workers will continue to work from home even after the COVID pandemic is over. Having home offices for husband and wife and home study rooms for the children has become important amenities.
Photo Credit: Jason Wells
Is there an area from which buyers are relocating to the Bay area?
We are experiencing the buyers from large Cities such as New York, San Francisco, and Los Angeles buying in Belvedere, Tiburon in Southern Marin County where the price is lower than the large cities and the communities are safer than the major cities from the virus and from the protestors.
Photo Credit: Jason Wells
How has your market been doing so far this year compared to this time last year?
My market is booming this year despite of the lockdown. There are 23 % more sales this year so far compared to last year. I have sold seven homes so far this year, total over $60 million.
