I know I’m supposed to be all rah-rah when it comes to the San Francisco real estate market, but the sales numbers for the time period of November 1-20th demonstrate the impact the economic downturn has had on our market.
Just in terms of units sold, there were only 76 single-family homes sold vs. 121 in the same time period of 2007. On the condo front, 47 properties changed hands this month, compared to 119 sales in 2007. And TIC sales really dropped, with four TICs selling this month vs. 29 in 2009.
Yes, there are sales pending, and a bunch of properties have gone into escrow this past week. But really, the only buyers out there now are the ones who have been looking and are qualified to buy. I am working with a few such individuals, and am out to get them the best deals possible. It’s nice to be in the driver’s seat with buyers, for the first time in a while.