Most buyers in the current San Francisco market learn quickly that most sellers are pricing their homes lower than the price they’re seeking. This is a particularly common strategy in a seller’s market. Multiple buyers become interested and write offers. Sellers then have the upper hand when it comes to selecting the highest and best offer, which often translates into countering multiple buyers and having to negotiate little.
A look at all single-family home and condo sales in the time period from March 13-April 13, 2013 provides a clear window into the current market. Of the 218 single-family homes (median price: $965,000, 43 cash sales) and 264 condos (median price: $855,000, 61 cash sales) that sold, only a handful sold for less or at the asking price. Continue Reading