The Wild Ride that is SF Real Estate....

SF Real Estate Market -

  • 20-year inventory high. 2x’s as many homes on the market YOY; 3x’s as many than 2015; 20% more than during yrs of Great Recession

  • Homes with price cuts hit a 10 year high this month with 35% of all homes on the market have had at least 1 price reduction

Single Family Homes vs. Condos

  • SFH in the sub $3M category, when priced right and presented well are still attracting multiple offers

  • Condos are the category feeling the bulk of the price adjustments. Condos in towers with elevators are feeling the pain the most. Condos in smaller buildings with extra space and outdoor area, especially if private, will garner attention from buyers.

What does the inventory mean?

  • Sellers – It’s imperative your home is priced right as soon as you hit the market or you will follow the market down.  And more than ever, you need to present the home in the best way, that means staging and impactful marketing

  • Buyers – You have choices

The Numbers -

  • 1468 Condos, lofts, tic’s, coops

  • 468 Single family homes

data source: SocketSite and SFMLS

 

 

Mary Ann Montano