SF Property Report
Fall 2012 Update:
This update is noted for a continuation of the strong seller's market here in San Francisco. The significant upward trends continue to indicate a sharp shift in buyer demand and decreased supply. This month’s "Market Action" indexes continue to tell this story well. The median price and inventory chart is also an excellent indicator.
Buyers still want to "get in" before prices go up further and they are priced out of the market. They remember all too well the boom years and many who felt they “missed out” don’t want to have that happen again. Some of these buyers did own homes at higher prices or still do, but aren’t concerned about any future price declines.
Sellers can continue to expect shorter closing times, with no contingencies happening more often than you might think. In general, look for limited contingencies, multiple offers and rising prices to continue for the next few months barring any significant economic shocks. Even properties that fall out of contract are most often due to a buyer’s cold feet. They are quickly snapped up buy backup or other offers ready for any property to become available. The fall market will be busier, based on early indications from my peers and sellers, but this is expected to be met by an increase in the number of buyers returning from summer trips and a general increase in the desire to own a home in San Francisco.
Please see the links below the statistics for articles about the local market or trends in general. If you would like similar statistics for your market area, please contact me and I can email you a customized, detailed report of what's going on specifically in your neighborhood.
If you want to find homes for sale in your neighborhood or elsewhere click here or call or email me if you have any questions. Have a great day. Thanks-Matt Ciganek
1-SF Housing Market