What’s August like for buyers?
As has been seen in Decembers past, August can also be a very good time for buyers to keep pushing on their quest, particularly when it comes to listings that have been on the market in excess of two to three weeks. In other words, listings that have been on the market beyond any offer due date are ripe for the picking at the moment since it’s (relatively) a lot less competitive out there.
By inputting a previous date in the San Francisco Multiple Listing Service, you’ll be able to search for these listings. For example, put in a day three weeks ago in the second date field after ACTIVE and you’ll be able to find properties that have been on the market for at least that amount of time. While not all these listings may meet your needs, you may be surprised at the gems that can crop up.
As of earlier this month, there were 271 active San Francisco listings with a list date of July 9, 2015 or earlier. For listings that have been on the market for 30 days or more, this link provides a quick way to review them regularly. Remember that doing due diligence as a buyer (or if representing buyers as an agent) means not simply keeping on top of what’s going on in the market in terms of what’s coming online right now. It means understanding what’s been available for a little while and thus may be a little more achievable when it comes to a sale.
Recently Paragon Real Estate found that in a 30-day span, there were 95 San Francisco listings that had expired or been withdrawn – and it is likely that many of these would-be sellers would still like to offload their properties. Don’t forget that they are still out there.