We’re truly coming to the end of the line for 2017 real estate offerings. A look at what’s out there reveals very little inventory in well-established, popular neighborhoods in the more central parts of the city. But there are houses and condos available; you just need to know where to look for them.
Here’s a snapshot of what’s left in the 2017 San Francisco real estate stocking:
There are just over 150 houses on the market as of this writing, with an average list price of $1,950,000. Southeastern neighborhoods like Crocker Amazon and Bayview have homes available, with a smattering of homes everywhere else. Buyers in the $3M and up range have plenty to pick from in Noe and Eureka Valleys, the Mission, Russian Hill and Pacific Heights.
New construction units represent the largest share of the currently available 230+ condos listed in the Multiple Listing Service (MLS). Projects still selling are 2655 Bush, 555 Fulton, Mission Bay and South Beach. Speaking of which, the majority of re-sale condos are in Yerba Buena, South of Market, Mission Bay and South Beach. More than half of all condos on the market are above $1M.
I’m not expecting many sellers to put their properties on the market between now and the end of the year. So I’d recommend seriously considering existing inventory if you’re aiming to get into contract this year. After that, we can probably expect inventory to gradually hit the market starting in mid- to late January 2018.