SF Property Report-*Post Labor Day '15 -Update
Welcome to the SF Property Report. This is a short update as the market is just finding it's feet (quickly) after the Labor Day holiday. There will be much activity over the next few months. One indication is from the sign company that posts our listings which told us to be very patient as the beginning of the month has been exceptionally busy this year. If you're thinking of selling, it's ok that you're not on the market yet. Buyers may find pockets of opportunity over the next few weeks if larger number of listings materialize and there's more to choose from which may then spread out the offers. **I will update this post in early October to reflect the market's movement and how the early fall listings have been received. The report from the past Summer is still below and the overall tone hasn't changed significantly so it's still a good indication of the overall marketplace. Call me if you have any questions in the meantime-Best wishes-Matt
There continues to be far more buyers than sellers in San Francisco. All market areas within the 7 x 7 confines (roughly) of the city are hot right now. Finding the right home continues to require some capitulation towards what you'd hoped to be able to buy and close to what you'd like continues to be close enough. The housing "crisis" rolls on as a result of the rapid expansion of the local economy that broke loose in the fall of '12. Sellers really need to trust their Realtor and make sure they're getting their properties well prepared for sale with strong marketing in order to get the best offer out there. It's not a guarantee as my buyers will tell you and my sellers will attest.
The latest new development selling out quickly is in Pac Heights with just remarkable numbers for a project that, at this time, is a fresh hole in the ground and new concrete pouring as I type. Click here for a recent article detailing the rate of sales at an average of $1,200 a square foot.
There's no particular market area that I could point to that would be regarded as the next hot neighborhood as they're all hot. The Portola district is getting a lot of attention. More commercial spaces in residential neighborhoods like the Sunset, Portola, Oceanview, Ingleside and Ingleside Heights would help those neighborhoods grow in popularity as there's constant pressure to be closer to the San Francisco economic machine. Public transportation, increasing interest of younger generations to avoid commuting in cars, and a desire to live in such a beautiful city with so much to offer are creating a different perception of neighborhoods that were formerly afterthoughts.
I'd be happy to give you a market specific report for your property. Just call or email and I can generate a quick report that will give you a very accurate range of value. Let me know how I can help! Thanks for reading-Matt