So the latest market report is in. Sales are down, prices are up, and even though there’s a massive “credit crunch”, the average days on the market for September of 2007 is 37, which means that homes, in this “crappy, scary, collapsing” market are actually selling 4 days faster than last year where the average days on the market was 41.
All in all… the market in San Francisco is cyclical. It goes up, it goes down, and then it goes back up again. January sales increase, they slow down in Spring, pick up at the end of Spring and beginning of summer, the late summer months are slow, and then September and October sales typically jump before taking a break for November and December, when we start all over again with another upswing in January.
We’re a little slower than we’d like to be this year with the credit crunch, but even so, there’s plenty of places selling, and that means that there are qualified buyers buying them… at least in San Francisco.
Feel free to share your thoughts! I’m always happy talk shop!!!