I was interviewed for a story last week that will be running in Yahoo! Homes. They’ve been noticing some crazy, million-dollar-over-asking sales in San Francisco, and were looking for some idea about why this is happening—and what’s going on with our market in general.
Here’s the upshot: It’s all about tech and foreign money. Continue Reading
The San Francisco real estate market didn’t seem to slow down this summer. I was “on vacation” last week, but still reported for duty to prep my upcoming listing, manage my current seller escrow and write offers. Many of my colleagues continued to bring on new listings straight through to the end of August, despite the threat of Burning Man and Labor Day weekend thinning the buyer pool.
And in fact, the last week of August saw many listings coming up dry when offer dates arrived. But I don’t think that this was because the market is softening significantly.
How did buyers and sellers fare in July and August in the condo and single-family home markets? Continue Reading
A good indication of market health is the number of properties sellers withdraw after the reality sinks in that buyers are not interested.
Sellers withdrew a total of 235 single-family homes, 331 condos, and 184 TIC interests from the market, from January-April 2009. Those are big numbers. Yes, times have certainly changed: Only 96 houses, 72 condos, and 87 TICs were withdrawn in the same time period in 2005.
Stay tuned: I’m sure many of these properties will appear on the market again over the next year, adding to the already heavy San Francisco inventory.
415.823.4656
eileen@insidesfre.comDRE# 01352627
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