San Francisco real estate market update: rents & sale prices continue to increase

Transamerica Pyramid, S.F. CA

 

Will there be more housing inventory in 2013? I sure hope so.  

2012 has been a year of consistent multiple offers & buyer competition for most properties.  Incredibly high rents are pushing more buyers into the purchase market creating further competition.   I’m looking forward to helping my buyers & sellers navigate this market in 2013!

 

 

As provided by S.F. Association of Realtors:

San Francisco Housing Market Remains Upbeat
Throughout Holiday Season

Even though the city’s housing market has had to deal with month-after-month of low housing stock in 2012, it has not
stopped a wave of motivated buyers from making San Francisco their home. Families have been rushing all year round to
purchase and settle into their new homes, eager to take advantage of historically low interest rates, knowing that rental
prices will only continue to rise.

Single-Family Home Sales
Compared to November of last year, the inventory of singlefamily homes for sale in the city fell by 38.1 percent, to a total of
516 properties. The number of homes under contract improved by 1.4 percent, while the number of homes sold also increased by 14.2 percent, to a total of 265 properties sold.

For homes that were priced below $700,000, the months of supply inventory dropped by 56.6 percent to a reading of 0.9
months. For higher-priced homes between $700,000 and $1.2 million, the months of supply inventory also fell, by 63.8 percent to 1.2 months.

These exceedingly short time frames are indicative of a seller’s market, where sellers have more leveraging power over buyers who are all vying against a limited amount of properties.

Full update report as provided by SFAR:  S.F. real estate market-focus-december-2012

 

 

Posted by:

Cheryl Bower, Realtor CRS, GRI, ABR, ePro
Cell/Text: 415-999-3450

cheryl@cbower.com
DRE #: 01505551
Zephyr Real Estate

San Francisco San Mateo Bay Area listing agent & buyers agent

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About Cheryl Bower

Cheryl is a S.F. native & 17 year property investor/renovator, specializing in S.F. real estate including residential sales & leasing.

She represents sellers, first time buyers, move up buyers, investors, & landlords in San Francisco, San Mateo County & beyond.

Questions about our marketplace?

415-999-3450

cheryl@cbower.com

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