San Francisco Real Estate Market Update for the week of July 8
Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:With the Fourth of July holiday falling right in the middle of the week, another quiet week was anticipated, but it was actually pretty busy out there. In the outlying areas, Buyers are still more interested in looking than in writing offers. In all areas, including the Peninsula and the City, Buyers are becoming more sensitive to condition and price. With an influx of new inventory hitting the market in many areas, those Buyers will be more likely to find what they’ve been searching for. Several months ago, it seemed the Peninsula was anxious to see new listings in all areas, now some communities are seeing some fresh inventory begin to stack up. In some northern Peninsula markets, the new inventory is definitely not selling as quickly as it did in April. Below are some fast facts on inventory in our markets in the City and Peninsula:
San Francisco has been holding steady all year with approx. 2.3 months supply inventory – June this year at 2.3 months is down from June ’06 when there was 2.7 months supply. In the over $2.5M market however, the City saw a jump which nearly doubled the May rate, now up to 5.5 months supply. This is likely a combination of new June inventory over $2.5M, as well as some existing listings that did not move in June. We’ll watch this one over the next several months to see if the upper end homes will continue a slower rate of absorption.
Read the entire report here.
- Rick Turley
* For an e-mail alert when this report is updated, send an e-mail to info@SFResidence.com with "weekly market report" in the subject line.
posted by SFResidence.com @ 7:04 AM
1 Comments:
Stay away from Bastimentos! You will be sorry
Post a Comment
<< Home