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."They're selling like hotcakes," is the old saying that comes to mind when talking about stale listings that have been on the market for long periods, sometimes a year or more. Reports are coming in about houses that wouldn't sell last year are suddenly ending up in escrow after multiple offers, even those at the very high end!
As has been the trend, sales are up while new listings are down. This week our office recorded 2.5 times the ratified deals as they did new listings. Is the phrase "shrinking inventory" starting to grate on you? Well, it's true. And as long as this, coupled with low interest rates, expect this feeding frenzy to continue.
Here are the numbers for last week:
5/6/07
- 9 new listings (average price $1,294,000 - low $715,000, high $2,150,000)
- 24 ratified sales (pending) (average ratified price $2,078,666.67 - low $375,000, high $7,750,000)
- 15 closed sales (sold) (average closed price $1,312,533.33 - low $655,000, high $4,950,000)
- 1 price correction ($879,000)
Price correction is our office's new term for reduced! Political correctness runs amok!
- Mick Orton
posted by SFResidence.com @ 2:04 PM
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