TRI Coldwell Banker San Francisco real estate statistics - last week in review
Our office at TRI Coldwell Banker at 1699 Van Ness in San Francisco is one of the premier offices in the City. We have some of the top agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.New listings are getting better, but continue to be fewer than pending sales. As we discussed this trend continues to deplete the already lean inventory.
1/31/07
- 10 new listings (average price $1,115,600)
- 16 ratified sales (pending) (average ratified price $1,065,561 - 2 confidential)
- 4 closed sales (sold) (average closed price $1,459,125)
- 1 back on the market*
This is a new category brought about by a new ruling from the San Francisco Board of Realtors. In the past a Realtor could withdraw a property and enter it as a new listing on the same day to generate new interest on a home that had become stale on the market. This method was also used to lower the price of a home without showing it as reduced.
These practices caused complaints from various sources saying that they are deceptive (read our article from September 23) and that they skewed statistics. Therefore, the board has decided that a listing must now be withdrawn or expired from the market for 30 days before it can be relisted as a new listing. Otherwise it is considered "back on the market" and retains the same MLS listing number.
- Mick Orton
posted by SFResidence.com @ 9:01 PM
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