San Francisco Real Estate Market Update for the week of December 16 - Final 2007 Report!
Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:The past week was like a snapshot of the entire year as far as San Francisco Bay Area real estate is concerned. I’ve mentioned before that our market is like a patchwork quilt – it’s often stitched together by definition into one large market area, but it’s actually made up of a multitude of different textures and patterns that shift and swirl. There is not only significant variation geographically among cities and communities, but also just a few days make a significant difference in the activity a particular branch experiences. Last week saw some areas entrenched in the end-of-the-year holiday slowdown. Others are seeing a surprisingly heightened level of buyer activity, including some fierce competition with multiple offers in the Peninsula.
San Francisco Van Ness still saw double-digit number of sales for the week, while commenting that activity felt slower. Another office in the City states fewer sales occurring, but prices holding firm. Most offices seem to be gearing up their new listings for January. The Peninsula still has pent-up demand for $1.5 to $1.9 homes in Palo Alto, parts of Menlo Park, Burlingame, and San Mateo. Well-written and presented offers with sound strategy are critical, as witnessed by our Redwood City/San Carlos office - the winner of multiple offers did not go to the Buyer with the highest priced offer. Half Moon Bay saw activity pick up as Buyers are recognizing the value our coastal community has to offer.
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 @ 3:48 PM
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