The San Francisco real estate market has 25.6% fewer listings on the market compared to last year. The median price is $1,715,000 and has increased 32.9% compared to one year ago. While inventory levels continue to decrease, demand has remained steady or increased.
Market dynamics has changed drastically. Many people are not downsizing since it may not make sense financially and many would be move up buyers are afraid to sell and become homeless as they are afraid they are unable to find a replacement property. This change in buyer and seller activity and mindset is affecting the availability of properties.
Let's hope the Spring market will bring more inventory to the market to help ease the lack of supply. The bidding continues.
It pays to work with a realtor who is connected to other realtors, has access to off market and has a pulse on the real estate market. I'm never too busy for you and your referrals.
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