A Seller’s Market
As inventory levels in San Francisco typically decline during the summer months and climb back up again around September, according to SocketSite, we see a lot of buyers ruthlessly overbidding each other to snatch up new listings. To the delight of the ones selling.
Below is a graph reported by Paragon Real Estate from MLS InfoSparks as of 6/30/18. Here we see a spike up to over 114% sold above the asking price of homes, and over 102% above the asking price of condos. These are sales prices (the amount they actually sold for) over asking prices. “The listings have snapped up faster than any time in the past 7 years,” per Paragon.
It is a good time for homeowners to sell right now as there’s less in the market for sale, and more looking to buy.
For a more detailed look of the market in San Francisco, visit: https://www.paragon-re.com/trend/san-francisco-home-prices-market-trends-news