I hope all is well with you. Life is always on-the-go in real estate land-- it's been an unusually busy summer...
The newsletter that follows is the first of hopefully many that you'll find has useful information. Let me know if there's anything you'd like to know more about.
Have a wonderful weekend!
Last month, more properties in San Francisco sold for over asking price than at any time in the past decade. While the summer slowdown is definitely being felt with a marked decline in the number of new listings for sale, don’t mistake a less-frenetic pace for a sea change in the market. The San Francisco Association of REALTORS' latest report shows the number of pending and sold listings, median sales price and days on market reflecting heightened competition relative to 12-month averages.
Low inventory is a big factor in our market -- in fact, the number of active listings in SF is down some 30% year-over-year. Even with the city on track to add approximately 3,600 new housing units annually thru 2022, it won't come close to meeting the demand of a growing population. Nonetheless, here are some developments worth noting:
555 Fulton - Brand New Condos in Hayes Valley, priced from the mid-$500,000s, Now Selling!
One Rincon - Stay tuned for vacant apartments to appear on the market as condos
With a booming local economy and mortgage interest rates still near record lows, there is no shortage of San Francisco buyers in the foreseeable future. If you'd like expert advice on selling, buying or moving up, please don't hesitate to call on me.
Nob Hill 3 Bed & 3 Bath Seller Represented
2 Bed & 2.5 Bath
Excelsior 2 Bed & 1 Bath Buyer Represented
Russian Hill 4 Bed & 3 Bath Buyer Represented
2 Bed & 2 Bath