You may be wondering what your prospects are for buying a home in San Francisco, now that we’re officially in the holiday home stretch.
One of my favorite times of the year to represent buyers is now—right after Thanksgiving, and through the end of the year. Though inventory is lighter, buyers are fewer and my clients can usually get good deals. You can expect price reductions on homes that have been on the market for a few weeks or more. These sellers will be as competitive as possible because they will most likely want to get their properties in contract before the end of the year.
And if you’re a cash buyer and can close before December 31st, you may be able to snag a great deal in the process.
Inventory will be lighter from now until around mid January 2013. That’s been the case in my experience over the past decade. But sellers will still bring their homes on the market, and they will be the serious ones with which you’ll likely be able to negotiate.
As of the end of last week, there were 223 single-family homes, 248 condos, 66 TICs and 115 two- to four-unit buildings available.
So get out there and stay consistent, and make sure you schedule time to see homes at open houses and through showing appointments. I once very successfully assisted my client with writing and submitting an offer on Christmas Eve. Take advantage of the lessened competition and don’t put things off until next year if you can help it.
And of course, please don’t hesitate to contact me if you’d like some guidance as you head into the holidays!