Here is the latest sales data from the San Francisco market. Over the last two weeks there were a total of 172 property sales. Interestingly, the majority of sales for single family (61%) and condos (54%) were either “over” asking or “at” asking, which indicates that sellers are pricing more realistically and buyers are recognizing the values. Notably as a whole, the percent of list price vs. sales price was on average less than 3-5%. Which means that the craziness of overbidding is currently the exception – not the rule. In regard to days on market, the best properties still sell quickly but condos (particularly SOMA/New Construction condos) are are staying on the market longer than average. In regard to 2-4 units: Although the number of available properties are fewer, there appear to be some opportunities in the 2-4 unit building category particularly if you don’t mind investing in a few repairs/upgrades.
If you’d like specific information on a particular neighborhood or property, please call me. I’m happy to answer any questions.