While rising home prices are not something buyers like to see, knowing that your home’s value is appreciating can help you feel secure in your future.
The Bay Area has seen growth in sale prices over the past two years due to the pandemic. There is increasing interest in the space and privacy of a single-family home. Experts predict that housing prices will continue to rise, but not as dramatically as they did from 2020 to 2021. There is also enough sales volume to demonstrate high interest in California real estate. According to the Canadian Association of Realtors (CAR) November 2021 figures, current sales remain higher than pre-pandemic despite a decline from the previous year.
In the future, when you decide to place your home for sale in Redwood City, CA, you will likely receive a good return that you can use to buy a larger home or create a nest egg for your retirement. This is what is referred to as having equity in your home.
Why Do People Enjoy Living in Redwood City?
If you have decided to invest in a home, why should you consider Redwood City?
Redwood City is a family-friendly suburb with good commuting access to San Francisco, Stanford, San Jose, and Silicon Valley employment opportunities. There are many Redwood City homes for sale that have larger lots and multiple bedrooms to provide your family with the space you need, but you’ll also have access to nightlife, restaurants, culture, education, and other benefits of living in the city.
Redwood City is the government hub for San Mateo County. Interest in this area is reflected in the median sales price of existing single-family homes, which is around $2.2 million according to the California Association of Realtors (CAR).
What is the Future of the Area?
Although many have worried that the departures of major tech companies like Oracle and Hewlett Packard Enterprise (HP), signal an end to Silicon Valley’s era, most analysts say the future is still strong. For one thing, there are many highly qualified and innovative workers in Silicon Valley, the start-up culture is strong, and the area has access to talent and research generated by Stanford University. These are not something that can easily be replicated elsewhere.
If you are considering Redwood City houses for sale for yourself and your family, now might be the time to buy when interest rates are still relatively low. Contact a real estate agent to discuss your options.