December 30, 2019
Welcome to our December newsletter. We hope you had a nice holiday and the New Year brings you health, happiness, and joy! We look forward to answering any of your real estate questions in the New Year.
This month we’ll take a dive into the most recent housing numbers and provide a Market Update for San Francisco through an examination of:
Market Update for San Francisco
Here’s a snapshot of this month’s housing market in San Francisco across four key indicators: home prices, month’s supply, days on market, and the sales-to-list price.
Home Prices
The takeaway:
For single-family homes, appreciating prices signal a healthy demand for housing and should encourage sellers to price their homes slightly above comparables. Sellers should price their condos in line with recent comparables.
Month’s Supply
The takeaway:
It’s a seller’s market. Supply levels are extremely low and tightening further compared to the previous year, giving sellers the advantage of robust demand and rising home prices.
Days on Market
The takeaway:
Sellers of luxury homes should have realistic expectations about how long it will take to sell their property. Days on market declined significantly from a year ago.
Sale-to-List Price
The takeaway:
Both condos and single-family homes are selling well above their listing price. Both buyers and sellers should be prepared to negotiate prices accordingly.
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You’ve got questions and we can’t wait to answer them.