New Release of 15 Homes Announced Amid Sales Pace of 5-per-Week, Fastest Velocity in Years
Marina Bay/Richmond, Calif. (Apr 1, 2016)— The Shores, a collection of beautiful condominium homes in the waterfront community of Marina Bay 15 miles northeast of San Francisco, announced today a sales milestone of 150 homes, following the strong buyer reception to its well-designed residences. Since the debut of The Shores’ 1- and 2-bedroom homes in July 2015, buyers have purchased at a rate of approximately five homes per week. Prices start at $260,000.
The just-released Polaris Pacific market report for Oakland-Emeryville condominium markets shows less than one-month’s supply of housing — one reason driving demand to Richmond and other markets. Six months’ inventory is considered a balanced market, and nine months is considered an oversupplied market, said the report.
“This may be the best value in the Bay Area. For these prices, and right on the Bay, you have an elegant lifestyle that’s amazingly affordable,” said Paul Zeger of Polaris Pacific, the sales and marketing firm for The Shores. “A steady stream of buyers is fueling one of the fastest sales velocities for a property like this in many years.”
Buyers have remarked at the Shores being a “unique find,” said Oz Erickson, chairman of Emerald Fund, the ownership representative. “The Shores is a one-of-a-kind location, right in the heart of Marina Bay and accessible to miles of pristine coastline with a lush walkable waterfront, scenic trails, and gorgeous daily sunsets over the water,” he said.
The Shores Sales Gallery is located at 1 Shoreline Court, Richmond, CA, just 15 miles from San Francisco. Take the Marina Bay exit off of I-580. For information on The Shores or to arrange an appointment, call 510.215.1600 or visit www.theshoresca.com.