September 22nd marks the official start of the fall season. Fall is not only beautiful in the Bay Area but this year it is also a great time to join the housing market. Inventory levels are low and there are plenty of interested buyers.
According to President of Coldwell Banker Residential Brokerage Mike James, sparse housing inventory continues to affect the entire Northern California market. The California Association of Realtors’ latest report indicates that the San Francisco Bay Area endured a large drop in pending sales due to the lack of available housing. In fact, availability dipped 11.5 percent since July 2016. The report also indicates that the number of homes available in San Francisco and San Mateo counties is down double-digits, 11.0 percent, and 21.4 percent, respectively. For homeowners on the fence about selling, the lack of inventory makes it a great time to list because many patient home buyers are prepared to come in with solid offers.
Not only that, the median sales price in San Francisco County is up 10 percent from August 2016 and up more than 5 percent year to date 2017.
The Market Summary above offers a look at sales activity for the prior month and year, along with current year-to-date statistics for San Francisco County.
— Anne Laury is an award-winning REALTOR® with Coldwell Banker Previews International® in San Francisco’s Pacific Heights office. Anne Laury ranks among the top 10 percent of real estate agents in the company. Her professionalism, expertise, initiative, and commitment to providing incomparable customer service are a winning combination for clients.