Quick Visual Of What Is Happening In The San Francisco Housing Market
Here is a quick visual of the number of listings taken over the past few years to show how low inventory really is for Single Family Homes.
The biggest issue with the San Francisco real estate market is inventory, particularly when it comes to single family homes. We have been saying this for four years, and the chart above shows why. Buyers are competing for a tiny number of houses, and competition is fierce. Many buyers are deciding, or being pushed, out of the market. As interest rates inch up this will only get worse, and eventually it will effect prices, although I really don’t see this happening any time soon.
As the chart visualizes, the condo market is acting differently than the house market. Inventory has actually inched up, which is in part due to new construction coming online in South Beach: Lumina, Harrison, 181 Fremont. This doesn’t mean condo prices are plummeting, it just points to a more even market. Nice condominiums are still commanding multiple bids and top prices.
It isn’t possible to properly plan your next real estate move without having the right information.
If you would like to know more, or if you have specific questions let’s talk.