San Francisco Real Estate - Residential

San Francisco Real Estate Market Update for 12/4 - 12/10/06

Avram Goldman, President and COO of Coldwell Banker, San Francisco Bay Area said in his latest weekly report:

"Happy Holidays. The market is pacing typical holiday markets. Sales are slower. Listing inventories keep shrinking which is a positive sign. Our inventory levels are under both 2002 and 2001. If open houses are any reflection on the holidays it looks like we will have very good retail sales. Open house activity has slowed down in most markets. However, parts of San Francisco are still seeing brisk activity.

"The number of multiple offers has decreased overall. Even some of the multiple offers are going for under list price. Some sellers are receiving offers well under list price. Always interesting to note the exceptions. In the Portero Hill area of San Francisco we had 12 offers on a $1,095,000. It went well over. This reflects both the scarcity of inventory in certain areas and a home that is well prepared and priced to sell.

"It has become more difficult to negotiate acceptable terms for both buyers and sellers. It is taking several counter offers. This is reflective of a balanced market. A market where both buyers and sellers have compromise.

"Here are the numbers for the week of Dec. 4th-10th: 2 offers reported increasing inventories, 11 steady and 17 decreasing-----sales showed 5 offices with increasing sales activity, 12 steady and 13 decreasing."

- Avram Goldman

* For an e-mail alert when this report is updated, send a note to info@SFResidence.com with "weekly market report" in the subject line.

posted by SFResidence.com @ 10:35 AM