Below is Zephyr Real Estate’s sales data for the previous week. These are NOT properties that have closed, just listings on which a purchase agreement has been ratified and the property has gone into escrow.
This week, Zephyr Real Estate’s pending sales have gone up by 272% from last week’s reported sales!!! I’d love to say the market has taken a huge jump in sales numbers, but this is common for the San Francisco market. Summer inventory is low, so the first two weeks after Labor Day show slow sales. But by mid-September, all of the properties that came on the market after Labor Day are starting to accept offers and go into contract. This means that we are back in full swing in real estate sales market. And homes in SF are selling!
Here’s this week’s numbers, and check back next week to see how they change.
43% of sales received multiple offers
16% of sales sold under the asking price
26% of sales sold at the asking price
58% of sales sold over the asking price