After nearly two years working here at OutKick, I tend to think I know what would get you to click on a post: Instagram models, California bullshit and real estate prices. Let’s face it, these vices never go out of style, and I’m going to be well into it again today because we have to address what’s still going on with the California real estate bubble.
Here we have a 2,260-square-foot 5-bedroom, 2-bath home built in the 1920s and sold this week in Mill Valley, California for $1,581,000 over asking price.
Take a look at the list of photos. We’re talking about a cute California house with a patio with a lemon tree in it. We’re talking about a beautiful yard rolling in the grass. The front porch is beautiful. The master bathroom has been updated. The rooms are basic. The kitchen is nice, but nothing extravagant.
How the hell did someone pay $4,576,000 to live in this house? Someone explain this to me. I don’t care if it’s Sycamore Ave. It is the best street in America and it is you can walk to the french creperie around the building. I took one look at the Google StreetMap of this place, and I was off. I don’t care if I had 5,000 bitcoins in my super secret virtual wallet and they were burning a hole in my virtual pocket.
I really need someone to explain to me what happened here pic.twitter.com/kcDtoWTX8u
– Austin Johnson March 31, 2022
Look at this street. A complete mess of parking. Is this even a two-way street? You’ll never guess where the nearest Costco is. That’s right, you have to drive to San Francisco to get 24 packs of butt wipes. If there’s good news, it’s Whole Foods 0.8 miles down the road for $300 for groceries.
I have $1000 these guys don’t make in the garage and most likely don’t even talk to each other. Bush patio lights? forget that. So how does this ultimately sell for $4.5 million?
According to housing data for February, the highest-priced market is in Santa Maria, California with the median listing price for all homes at $1.625 million, Realtor.com reports. why? No lists.
Prices are rising, according to the listing website, due to the shortage of 5.8 million single-family homes.
“The inventory shortage has accelerated the pace of sales, with property buyers snapping up as soon as they hit the market,” says George Ratio, an economist at Realtor.com. Moreover, the surge in mortgage rates in the first six weeks of the year prompted buyers to find a home before interest rates rose. These factors have pushed average prices to record levels, not only in the hottest markets but across the country.”
So, where are the hottest housing markets? Realtor data shows that the fires aren’t just California and across the South. Look at Fort Wayne, IN coming up at No. 13.
| hottest metro | Gravity Rank | Temperature rating compared to last year | Average listing price |
| Manchester, New Hampshire | 1 | 6 | $439,900 |
| Santa Cruz, California | 2 | 12 | $1,243,250 |
| Raleigh, North Carolina | 3 | 46 | $430,000 |
| Springfield, Massachusetts | 4 | 81 | $317,250 |
| Topeka, Kansas | 5 | 6 | $184,950 |
| Rochester, New York | 6 | 9 | $225,000 |
| Boulder, Colorado | 7 | 115 | $851,742 |
| Portland, MI | 8 | 36 | $522,000 |
| Salinas, California | 9 | 58 | $909,000 |
| Vallejo, California | 10 | -6 | $593,500 |
| Burlington, North Carolina | 11 | -10 | $314,253 |
| Northport, Florida | 12 | 118 | $547,500 |
| Fort Wayne, IN | 13 | 17 | $289,900 |
| Columbia, Missouri | 14 | 7 | $337,500 |
| Fort Collins, Colorado | 15th | 45 | 620 thousand dollars |
| Concord, New Hampshire | 16 | -10 | $464,900 |
| Columbus, Ohio | 17 | 6 | $324,950 |
| Santa Maria, California | 18 | 15th | $1,625,000 |
| Billings, MT | 19 | 24 | $567,450 |
| Worcester, Massachusetts | 20 | 35 | 424,000 dollars |
Now, I get the logical answers for how someone would pay $4.5 million for a fairly basic 2,200 square foot home in California.
- The buyer works in the area and earns a lot of money, so he bought it
- I really like the magic wife
- It is close to everything
- Oh my God, they can walk to the small downtown area
- They are not building more houses in that area
How are home searches conducted in your area? Are people pumping $1.5 million to outbid competitors? May I know.
Email: [email protected]
I would happily be here to consider my work in Ohio. https://t.co/Cy8et2fWNO
– Joe Kinsey (@JoeKinseyexp) March 31, 2022
