The number of closings in October increased by nearly 40 percent versus the prior month, while total dollar volume increased by over 50 percent. The majority of properties (74 percent) sold in under 30 days and received 12 percent over the list price, on average. Tech Sector performance continues to fuel the steadfast demand. As an example, it is estimated that Bay Area venture capital funding is up approximately 25 percent year-to-date. Stock Markets have also made strides, with Reuters reporting that “The gains on the first trading day of the month followed the best monthly performance of the major indexes in four years in October.” The prospect of a December rate hike remains a possibility.

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