SF Property Report-Summer '15 Update
Welcome to the SF Property Report. It's been a very busy Spring and start to the Summer this year in San Francisco. The market has yet to stop. Some segments are slowing but not without pockets of unpredictable strength.
There continues to be far more buyers than sellers in San Francisco. All market areas within the 7 x 7 confines (roughly) of the city are hot right now. Finding the right home continues to require some capitulation towards what you'd hoped to be able to buy and close to what you'd like continues to be close enough. The housing "crisis" rolls on as a result of the rapid expansion of the local economy that broke loose in the fall of '12. Sellers really need to trust their Realtor and make sure they're getting their properties well prepared for sale with strong marketing in order to get the best offer out there. It's not a guarantee as my buyers will tell you and my sellers will attest.
The latest new development selling out quickly is in Pac Heights with just remarkable numbers for a project that, at this time, is a fresh hole in the ground and new concrete pouring as I type. Click here for a recent article detailing the rate of sales at an average of $1,200 a square foot.
There's no particular market area that I could point to that would be regarded as the next hot neighborhood as they're all hot. The Portola district is getting a lot of attention. More commercial spaces in residential neighborhoods like the Sunset, Portola, Oceanview, Ingleside and Ingleside Heights would help those neighborhoods grow in popularity as there's constant pressure to be closer to the San Francisco economic machine. Public transportation, increasing interest of younger generations to avoid commuting in cars, and a desire to live in such a beautiful city with so much to offer are creating a different perception of neighborhoods that were formerly afterthoughts.
I'd be happy to give you a market specific report for your property. Just call or email and I can generate a quick report that will give you a very accurate range of value. Let me know how I can help! Thanks for reading-Matt