San Francisco Real Estate Market Update for 1/15 - 1/21/07
Read what Rick Turley, new President of Coldwell Banker, San Francisco/Peninsula said in his latest weekly report:Momentum continues to gather as inventory gets sold as fast as it comes on the market in most areas. Even some wall flower listings lingering from last year are being courted by genuinely interested buyers. Most offices report that they are seeing more buyer-controlled transactions, and that sales associates are working with significantly more buyers as well.
Listing inventory remains mostly steady, so these shoppers eagerly await new listings and a wider selection to appear on the market. 15 offices reported steady listing inventory while 9 reported increasing levels and 4 indicated that inventory was decreasing.
Over 450 houses were held open last weekend to large crowds with some first showing garnering 150 to 200 visitors, and more than 50 properties received multiple offers through all price points. One home received 44 offers - but the highest offer was $25k under the list price. Those large numbers of buyers out there are serious, but they’re still looking for bargains. Fortunately, sellers are increasingly willing to negotiate as 16 offices reported steady sales activity and 11 testified to increasing sales activity. One office reported sales activity as declining.
Even our usually nay-saying media is starting to take notice of a market that is showing signs of health with headlines containing words like “stabilization,” “increasing,” and “eases up.”
- Rick Turley
* 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 @ 7:25 AM
0 Comments:
Post a Comment
<< Home