The shelter in place (SIP) restrictions put San Francisco real estate on pause for a bit in mid March. But our local market is stable and sales are happening, despite the adversity. Prices are not declining, though volume is down by half. We now have six weeks’ worth of SIP market sales activity that will guide buyer and seller decisions in 2020.
The buyers and sellers doing business now are typically motivated by life situations—job relocation, financial situation, domestic changes, for example. Real estate is anything but recreational right now.
Properties in good locations are still seeing multiple offers and overbidding, though more for single-family homes than condos. Cash sales represent only a small portion of activity. Continue Reading