In case you’re a regular reader here at the blog, you probably have noticed the ridiculous lack of steady posts over the last several weeks. Things in the SF real estate market have been anything but slow, and Zephyr has the scoop:
It’s true that after several months of decent home sales, we saw a dip in January. It’s also true that a slow down at this time of year is typical for San Francisco. People have other things on their minds (holidays, lousy weather, etc.) and will normally wait until early Spring to re-focus on selling or buying real estate.
At last, it appears that we have returned to the market normalcy that existed prior to the boom of 2003 through 2006. Every indication is that we have turned a corner with the market statistics and that home sales have at least stabilized, if not begun to rebound. We have everything going for us; mortgage interest rates, great home prices and the ever resilient San Francisco real estate market.
They say that the numbers don’t lie. Comparing the last year’s three month period of November 1st through January 31st to this year’s we have some pretty good results. Last year, 761 sales city-wide, this year 1182 sales. Also, last year’s median sale price for the same time frame was $685,000, while this year’s median was $719,000 (these numbers included SFDs, Condos and 2-4 unit buildings).
Not too shabby!
The numbers for each neighborhood can differ tremendously from the City-wide data. As they say, our neighborhood sales vary like our micro-climates! 😉
The real test of market recovery will be the numbers that we see for the coming three months, so stay tuned!
I’ll say that’s a pretty good indicator that the San Francisco housing market is picking up speed. If you have questions about the market, give me a shout at 415-307-1392 or email me at [email protected]! I’m always happy to talk real estate! 😀