“The good news is that we are starting to see inventory rise a bit, and a slightly larger share of homes seeing price cuts.” “We expect home values to continue rising for the foreseeable future, and mortgage rates are still hovering near historic lows, which can save buyers hundreds of dollars each month,” he said. And Kreamer said the Bay Area continues to be an “extremely competitive market.” Zillow’s August market report showed the number of available homes in the San Francisco metropolitan area rose last month, as did the share of listings with a price cut.īut the report showed home values - which Zillow calculates as an average of the middle third of the market, minus the top and bottom 5% - rose slightly from July, and were up 17.9% over last year. “And the Bay Area is by far the most expensive housing market in the country.” “While some of these are indeed high-priced areas, it’s certainly relative,” Kreamer said. Some of the top ZIP codes are particularly pricey, including 94506 in Danville, where the typical home value is $2.6 million 94024 in Los Altos, with a $3.8 million typical home value and 95070 in Saratoga, with a typical home value of $3.4 million. “Those homes have become even more attractive when the length of a commute isn’t factored in as highly.” “For people newly working remotely, that often means more space, room for a home office and outdoor space - attributes you are more likely to find in suburban homes,” he wrote in an email. Kreamer said interest in the Bay Area has been trending for several years, but the pandemic caused it to “really take off.” Matt Kreamer, spokesperson for Zillow, said amenities can be an influential factor in demand, including access to green space and parks, or being near restaurants and nightlife. The top two ZIP codes in the Bay Area were 94708 in Berkeley, which runs adjacent to Tilden Regional Park and the Tilden Nature Area, and 95037 in Morgan Hill, just south of San Jose, which has plentiful access to amenities such as parks, restaurants and wineries. Zillow determined the hottest ZIP codes in the two metro areas by taking the median online page views per home listing per day by ZIP code. Top 5 hottest ZIP codes in the San Jose metro area: Top 5 hottest ZIP codes in the San Francisco metro area: Just in case you didn’t think Apple stores were crowded enough already.The analysis looked specifically at two metropolitan areas: the San Francisco area, defined as Alameda, Contra Costa, San Francisco, San Mateo and Marin counties, and the San Jose area, defined as Santa Clara and San Benito counties. “We want people to say ‘hey, meet me at Apple!’, ‘did you see what’s going on at Apple?’” says Ahrendts, adding that she hopes people will come and chill at the store at weekends. The plaza will have seating, wifi, and even live music, all in front of a 50-foot-high wall covered in living plants. The flagship store backs onto a public “Plaza” which Apple has also renovated-not without controversy, as it includes a beloved fountain leftover from when the site was a Levis Store. “Sometimes having to get your phone fixed is like going to the dentist, so we said, 'how can we make it the most calming, the most inviting environment?'” Hence the trees.Īlongside the grove is “the Avenue” where new accessories are on display “the Forum,” where a giant video wall will facilitate everything from game night to workshops with invited creative types and “the Boardroom,” where small business, start-ups, and app developers can share wisdom. “The word 'bar' denotes noisy, loud, chaotic,” says Angela Ahrendts, Apple’s senior vice president of retail and online stores. Oh and it’s not the Genius Bar anymore, it’s the Genius Grove.
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