SF Property

SF Property

In this SF property report I can give you a brief overview of particular sections of the San Francisco real estate market.  This information comes from fellow agents and is the most recent market analysis of SF property.

San Francisco Lakeside

We are definitely seeing more listings and the inventory is growing but still remarkably below levels to indicate a balanced market. Multiple offers prevail. One property that had been overlooked at its initial price, took a 5% price reduction and then sold with multiple offers 10% above the new price with at least 2 offers in that higher range. Over pricing…or even “right on” pricing, is continuing to prove not to be the way to get the most for your SF property.

 San Francisco Lombard

The Lombard region of San Francisco is proving to be some of the most sought after SF property. After what appeared a bit of a slow down in the multiple offer frenzy, we had a tsunami of offers this week. One listing a probate drew 37 offers, all of them all cash. A pair of vacant flats yielded 21 offers. Another had 11 offers. Some deals 30-35% over. A number of agents stating that the market is slowing a little, and some flawed SF property is staying on the market longer. But open houses very active and most deals over asking with multiple offers, but in the 4-8 range, not 25 -35 like last week.

San Francisco Market

Lack of inventory and multiple offers continue to be the headline for SF property within this market.  This period we saw multiple offers ranging anywhere from 2 to 15. However, we saw several homes ratified with single offers.  While some buyers are shying away from the frenzy, open houses continue to be heavily attended by those that are not intimidated by this market.  Of the homes that went into contract this period, all but one received multiple offers (anywhere from two to twenty two). The one property to be scooped up with a single offer was a “pocket listing”. And though cash is king, buyers that need financing can still win the day if they’re willing to pay significantly more than everybody else.

San Francisco Sunset

The market “appears” to slow down just a bit but it is still very active. Prices continued to push upward. The amount of cash offers has decrease slightly. A recent listing at $1 million received 18 offers with only 2 of them are cash but the highest offers were well over 30% above asking. Thus SF property within the region of San Francisco Sunset is still proving extremely popular.