Welcome back to the “Over, Under, At” weekly feature. It’s a simple breakdown taken from MLS data that shows the number of closed sales that sold Over Asking Price, Under Asking Price or At Asking Price.
*Just a reminder that new construction sales are rarely included in this list since they don’t get posted on the MLS.
Happy Monday folks. I can report a little sign of what might potentially be good news (yes, I’m a little wary of jumping for joy just yet.) Sales SEEM to be crawling upwards. (OK, buyers, this may not be good news for YOU, but I think you still have plenty of time to take advantage of the good values out there.) And the Over/Under/At numbers are showing that not every property is selling for under the asking price.
SINGLE FAMILY HOME SALES AND CONDO SALES HAVE DOUBLED SINCE LAST WEEK! TIC’s haven’t but there’s no real need to gamble on a TIC (I think they’re great investments under the right circumstances, just not for everyone, evertime) when there’s a good supply of condos and demand still has us in a buyer’s market. HOWEVER, they STILL all sold AT ASKING!!!
Seeing the increase in sales in JUST one week is enough to make me do a little dance.
And like I said last week, I’m not saying the market is recovered, or even already recovering… but I feel like things are stabilizing and that qualified buyers are jumping on the opportunities in the market. And eventually, we’ll come out of this slump. And some of you will have a shiny new (or maybe old) piece of real estate to show for it!
Keep in mind that these reports are meant to be helpful for potential buyers and sellers – but to really understand the pulse of the SF real estate market, talk to a local real estate agent. We’re in the trenches and these closed sales went into escrow a month ago (sometimes less, sometimes more). We are much better in tune with what’s going on in the market TODAY and can give you much more in depth information than any set of statistics can. If you need advice from a San Francisco Realtor, feel free to email me or call me at 415–307–1392. I’m always happy to talk real estate.
Here’s a quick breakdown of closed San Francisco home sales for the week from February 23 – March 1, 2009:
Single Family Homes – 39 Homes Sold
Condos/Lofts/Co-ops’s – 19 Homes Sold
TIC’s – 3 Home Sold