Celebrate Good Times – Come On!!

Buyers Have Reason To Celebrate, For A Change!

Now is the best time to buy in San Francisco I’ve seen in years. Historically, the autumn market is calmer with less competition. But, this year, for the first time in several years, the competition is less than usual, making this the perfect time to purchase.

Looking back at the statistics from the past few years, we traditionally see a dramatic increase in price each January. For instance, last year the median price for a home in San Francisco that went into contract in December of 2014 sold for $925,000; in January the figure rose to $1,115,000!

While this figure may be skewed, since it is the median price for all home types, it does show an upward trend on price that each new year adds.

Bonus Benefit for Buyers.

The frenzy has slowed as we enter the year end.. For example, instead of buyers being overwhelmed having to compete with 6 to 10 offers, we are now having to compete with an average of 3. As I write this, I know of several great properties that have been on the market for 30 days or more than can be purchased without competition — allowing you, the buyer, to make the right decision instead of a frantic decision. (That’s right! Call me now before these hidden gems sell, as buyers, can actually negotiate the price and terms of the offer!)

We are not declare declaring that the seller’s market that has been surging for the past 4 to 5 years is over, but buyers are currently receiving a welcome respite for from the fast paced, fiercely competitive market. San Francisco will always have limited supply versus demand, due in large part to it’s geographically barriers.

In addition, with unemployment in San Francisco very low, substantial wage growth, the availability of cash, historically low interest rates and the living desirability of San Francisco there is no reason to think that in January things are not going to heat up again and seller’s will be back into complete control in the “driver’s seat.”

As a San Francisco real estate broker for over 20+ years, I feel confident when I say this is the best time in years to purchase real estate here. If you or your friends are contemplating purchasing a property, now is the time.