2020 Review: Looking Back on Bay Area Real Estate Trends

2020 was a difficult year that we won't forget any time soon...

While there was plenty of bad. There was also some good - like the lowest interest rates in history that enabled many people to buy their first homes.

As this *unprecedented* year comes to a close, we wanted to share some trends we observed in Bay Area real estate in 2020...

How people searched for homes...

With tens of thousands of homes on sale in every region, finding your ideal home is no easy task and with citywide lockdowns and quarantines happening across the country, the house hunting process was made even more difficult!

To make this process easier, we empower our users with a powerful, easy-to-use toolkit comprising of tags, filters, images, schools and a lot more - all online.

We looked at how people used ZeroDown's home search and discovered some interesting insights into what’s most important to Bay Area home shoppers.

Homes that interested people the most:

The most viewed home on ZeroDown in 2020 was this single-story four bed, three bath home in Brentwood.

361 Fletcher Lane in Brentwood (sold for $690,000)

Followed by this bright condo in the Duboce Triangle neighborhood.

156 Noe Street in San Francisco (sold for $1,415,000)

Followed by these two properties in third and fourth place: a two bed, two bath single-story home in Concord (left) and a two bed, two bath condo in Walnut Creek (right).

3137 Claudia Dr in Concord (sold for $550,000) // 1310 Creekside Drive #105 in Walnut Creek (currently sale pending)

As for what exactly people wanted this past year?

Our users took advantage of our search tags - these three in particular:

  1. Best of Bay Area
  2. Natural Light
  3. Dog Friendly

The most popular tag of all was our “Best of Bay Area” tag. This shows how people want curated lists of homes to look at - making their search process easier.

Other than a curated list, people looked out for homes with “Most Natural Light” and that were “Dog Friendly”.

We've recently introduced even more tags allowing you to get as granular and specific as you like when browsing homes - check out everything from "5G Network Coverage", "Big Outdoor Space", "Near Farmers Market", "Walking Friendly", "Bike Friendly", and much, much more through our filter feature here.

Hottest cities filtered for in 2020:

  1. San Francisco
  2. Alameda
  3. Berkeley
  4. Oakland
  5. Daly City

San Francisco, despite the mass exodus caused by Covid-19, remains the most-searched for city on ZeroDown, with Alameda in second place, followed by Berkeley in third, Oakland in fourth, and Daly City in fifth.

Cities with the highest inventory and number of homes sold:

In 2020, San Jose had the biggest chunk of new “For Sale” signs in the Bay Area, followed closely by San Francisco.

While San Jose had high inventory this past year, it also happened to score the largest number of homes actually sold. Win-win for San Jose!

What does the average home sold in 2020 look like?

We took all homes sold in 2020 and calculated the geometric median over the homes’ covered area, sold price, and number of bedrooms and bathrooms.

The result? A $974,000 house with three bedrooms and two bathrooms spanning 1,673 square foot on a 6,562 lot, built in 1969. So this home in San Jose with a smaller lot is very hot (and still available at time of writing).

As for the most and least expensive homes on the market this year?

For most expensive listing of 2020, we've got this incredible Silicon Valley hilltop estate at a whopping $53,888,000!

610 Los Trancos Road in Portola Valley

And for least expensive listing of 2020, we have this renovated one bed condo in San Rafael.

100 Thorndale Drive #352 in San Rafael

Luckily for you - both are still on the market.

Looking forward to 2021, we’re so excited to help even more people find their ideal home in the Bay Area. Wishing you and yours a very Happy New Year!

Looking for interesting homes? Start browsing here.

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