Categorized | Residential

San Francisco Housing Market Benefits from Shuttle Service

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A shuttle service for tech companies Apple, Google, and Facebook is at the heart of the housing market resurgence in San Francisco. The residential real estate market in San Francisco fell into the abyss roughly four years ago, but is now on the fast track to recovery thanks to a new form of transportation.

 

The tech shuttles are unmarked buses that travel between San Francisco and Silicon Valley, taking only employees of Facebook, Google, and Apple to their workplace. It is this convenience factor that has led to a resurgence of the San Francisco market. Many realtors are reporting that the proximity to one of these stops has become a primary question asked by just about every new buyer from the tech industry.

 

Housing prices in San Francisco are soaring as a result of these shuttles. Homes that would normally sell for one million dollars are now selling for two million dollars because they are a few blocks away from a tech shuttle stop.

 

Residential real estate prices were down by nearly fifty percent in the last year or two. However, prices are on the rise, and are now down just five percent from last year. Housing prices are expected to continue to improve, largely due to the success of the major tech companies. Surrounding counties are also benefitting from the tech shuttles.

 

As housing availability in San Francisco begins to grow thin, surrounding cities like San Mateo and Palo Alto will certainly reap the benefits. In fact, those cities are already starting to show signs of growth in recent months.

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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