Tight inventory, low interest rates, and pent-up demand combined to produce a sales price to list price ratio in the Bay Area of 108.2% in April. Five of the nine Bay Area counties saw a triple-digit increase in sales.
Rents and condominium sales continue to decline with the more expensive rental areas – San Francisco and San Jose – seeing the steepest decline. Analysts expect this trend to continue throughout 2021.
As of late May, the average rent for a one-bedroom apartment in San Francisco is $2,650 which represents is a 20 percent decrease compared to 2020.