San Francisco Real Estate - Residential

TRI Coldwell Banker San Francisco real estate statistics - last week in review

SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco is one of the premier offices in the City and has the market share numbers to prove it. 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.

Redundant is not a strong enough word about this week's report. For weeks, the message has been the same. With ratified sales outpacing new listings, the inventory is quickly drying up. Reports of multiple offers on properties that were sitting on the market last winter is more and more common. As we have said before, preemptive offers are becoming more popular to avoid a bidding war. All across the country, Realtors are complaining of down markets. Not so in San Francisco, mostly fueled by few listings and many buyers; low supply and high demand is the order of the day. And with this climate, it is not uncommon to see homes sell for 10% over the asking price. If you are thinking of selling NOW might be the time to put your house on the market! There is less competition for sellers and puts you in the driver's seat!

Here are the numbers for last week:

3/14/07

• 6 new listings (average price $1,655,167)
• 19 ratified sales (pending - average ratified price $1,348,099 - 2 confidential)
• 15 closed sales (sold - average closed price $1,544,533)

- Janis Stone

posted by SFResidence.com @ 8:10 AM