Buyers, take advantage of Labor Day inventory
Since Labor Day a week ago, more than 200 new listings have come on the San Francisco real estate market. Here at Paragon alone, we’ve announced 20 new properties for sale, with more to be announced. Now, let’s make a comparison: in all of August, there were 431 new Multiple Listing Service listings. Hopefully that puts it in some sort of perspective.
September is typically the biggest single month for new listings of the year – and if current trends continue as we’ve seen them performing, it will be a very big new-listing month. Another element that gives us hope is that, in past years, it has not been unusual that the autumn market didn’t wake from its summer doldrums until mid-September – and it’s not looking like that is the case this year.
If you’re a buyer, or a real estate agent representing buyers, this is the time to wake from your doldrums as well. This month may have the best new-listing selection for buyers in some time, so it’s time to get out there – and fast. Since the recovery started in earnest in early 2012, inventory has been a constant headache for San Francisco buyers, often forcing them into competitive multiple-offer bidding wars. While I can’t promise you those days are over – because they won’t be – it does seem that this is one of the most opportune times you’ll see in a long stretch.
A few words about inventory: it’s a crucial part of any real estate market, particularly ours. That’s because San Francisco is a very competitive market and at most given times, it’s going to be hard to find inventory to consider buying. Inventory can also affect housing prices. Here’s an explanation of why that is.
Have specific questions? Give me a call!
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com