There is a season for real estate. There are annual fluctuations that come into play. Taking a step back and looking at the macro trends can give you an edge.
When is the best time to buy a San Francisco home?
Knowing these trends can help the savvy home buyer or home seller take advantage of the upward and downward swing of San Francisco real estate.
Let’s take a look at the following data – properties with a price decrease.
This represents all of San Francisco’s single family home listings since December 2018. Each winter we see a spike in the number of properties with a price reduction. Great news for the home buyer looking for a deal.
Take a look at a different data point, inventory. Again we see a correlation with seasonal winter peaks.
More inventory equals less buyers available. Not only that, buyers tend to be more active Spring/Summer.
Finally, if we look at the list price we see these seasonal trends continue in reverse. This time the peaks are in the summer months. Homes are listed for more in Spring/Summer.
If you are thinking about buying, getting your finances in order is a good idea. You might just be able to find yourself that perfect home at a more reasonable price. Happy hunting!
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