The Latest Trends in Our Real Estate Market

San Francisco Real Estate Podcast with Durwin Cheung

What’s changed in the San Francisco real estate market over the last three months? We’ll look at home prices and inventory today.

Buying a San Francisco Home? Search All Homes For Sale

Selling Your San Francisco Home? Get a Free Home Value Report

What’s changed since our last market update?
First of all, let’s look at inventory. Inventory in the San Francisco area is pretty stable. There is not a whole lot of inventory, but we’re not exactly experiencing a shortage either.
Right now, we are in a flat market. In my opinion, that’s a good thing in the long run. When the market shoots up quickly, it will dive down just as fast, if not faster.
How fast are homes selling?
Right now, I have four listings. Two just went under contract, and one actually sold for more than asking price. The other sold for a little below asking price. Our market is in an interesting place because certain pockets are selling for over asking price while others are not.

Condition and location determine whether or not a home will sell over asking price.

One of those two listings had been completely remodeled, but the other was in a slightly better area. The one in the better area sold for over asking, while the remodel went for just below asking.
A couple of years ago, homes sold above asking price all the time. In our current market, the sales price really depends on where the property is and what kind of condition the home is in. Homebuyers today are looking for turnkey properties.
We also have a nice, two-bedroom condo in a great area that, as of this recording, is still available, so let me know if you would like to learn more about it.
Overall, prices are stable in our current market. Some homes are selling for more than the asking price but that really depends on location, location, location.
If you have any other questions about our current market, please don’t hesitate to reach out to me. I would be happy to help you!