2020 has been a year like no other, but I’m willing to bet that motivated buyers and sellers will follow their usual holiday season activity pattern. Buyers will aggressively write offers and try to negotiate, and sellers will be more willing to negotiate so they can wrap up their sale before year end.
There’s a healthy amount of houses, condos and TICs on the market that all stand a chance of having to return in 2021. Here’s a quick look at each category:
Number available: 345
Median list price: $1,890,000
Avge days on market (DOM): 59
Where the inventory is: Parkside/Sunset, Ingleside, Sunnyside, Noe/Eureka Valleys, Pacific Heights, Cow Hollow, Bernal Heights, Mission, Bayview, Visitacion Valley.
Worth noting: There are far fewer houses than condos sitting on the market, with about 40% listed for up to $1.5M. That means buyers can expect to pay $2M+ for most of the homes on the market.
Number available: 992
Median list price: $1,065,040
Avge DOM: 77
Where the inventory is: Diamond Heights, Noe/Eureka Valley, Mission Dolores, Hayes Valley, Lower Pacific Heights, Western Addition, NoPa, Marina, Pacific Heights, Downtown, Nob/Russian Hills, Van Ness Corridor, Mission, Mission Bay, SoMa and South Beach.
Worth noting: Where isn’t there inventory? With almost a whopping 1,000 condos currently available, this market segment is desperate for buyers—especially on the high end.
Number available: 140
Median list price: $1,189,500
Avge DOM: 67
Where the inventory is: Mission Dolores, Marina, Pacific Heights, Nob/Russian Hills, Mission
Worth noting: Almost half the TICs currently on the market are listed for $1M. There are 16 TICs for $2M+, including a two-story penthouse at the 33-unit Park Lane (1100 Sacramento) priced at $10,495,000.