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The average sales price per square foot continues its march towards triple digits at $81.66 per square foot for the quarter, an increase of $26.66 per square foot from last year's third quarter number.
“A concentrated focus on STEM in higher education has given tech companies new markets to target outside of traditional tech hubs,” says Julia Georgules at JLL.
Prospects for Bay Area real estate markets have shifted significantly, whereby San Francisco's ranking falls from 10th to 27th and Oakland goes from 14th to 20th, while San Jose jumps from 17th to eighth place.
Although recovery from Hurricanes Harvey and Irma drove much of the activity in construction and authorizations last month, it wasn't the whole story on a national basis.
Multifamily activity in 2017 has been slower than the record-breaking years 2015 and 2016, and it might be caused by slowed foreign investment from the pull back of EB-5 visas.
San Diego continues to show its potential as a diverse growth and innovation market with long roots in STEM talent, biotech and life sciences, med-tech and tourism, San Diego Regional EDC's Lauree Sahba tells attendees at RealShare San Diego.
“Rising homeownership rates and limited housing inventory” are two factors driving demand for housing, says Robert Dietz with the National Association of Home Builders.