What weird times we are living in! This is a really difficult time to analyze or to make predictions. From where I’m sitting, I see a lot of up and down going on – that relates to the market, consumer sentiment, and just moods in general.
Regardless, despite this broader uncertainty, the real estate market in San Francisco, and in Glen Park more specifically, remains very strong! With people going back to work in the office more, especially down the Peninsula and in Downtown, the desire to be in a great neighborhood that has excellent transportation options is drawing more people to the area. I would say the hottest commodity right now is single family homes that are at least 3br/2ba with parking, some yard space and listed under $2mil. There is a bumper crop of buyers for those houses and you can expect a lot of competition and overbidding.
If you take a look at the Sales Price to List Price (SP/LP) numbers you’ll see this in action. I recently got clients into a property with 12 offers – so the buyers are definitely out there! Condos throughout the city are a different story, there’s a lot of opportunity there for buyers. Just keep a close eye on the Fanny/Freddie Blacklist (which changes all the time – you need to talk to a lender to get find out if a property you’re interested in or trying to sell is on the list, as this can impact financing).
Things are more complicated than ever regarding real estate – one piece of advice I always give my clients when buying a property – when you are considering buying a property call your trusted insurance agent (your real estate agent can give you a recommendation if you don’t have one already) and find out if the property you’re considering is insurable, and at what cost and with what insurance company. Is there knob and tube wiring? Is there a Federal Pacific electrical panel (considered unsafe)? How old is the roof? Being able to get insurance was just taken for granted up to a few years ago. It was an afterthought and now it’s front and center. With the proper footwork though, you can be ahead of the game and be confident with your offers.
So, what does the future bring? I think we will see modest growth and continued lower inventory. The interest rates that were supposed to be coming way down at the end of last year are hanging around the high 6’s and look likely to do that for the foreseeable future, so I don’t see a huge influx of inventory coming on in the near future. We should outpace last year, but I don’t think it’s going to be a huge jump. So, keep on keeping on! If you want to check out my latest Youtube video recapping Q1 2025 in San Francisco, you can see that HERE. Until next month…
Now, for the Glen Park Transactions/Listings for the month of April:
Here’s a look at what sold in the month of April–
Here’s a look at what’s currently in contract–
And lastly, the inventory that is currently available in Glen Park–
For more San Francisco sales data, visit: thegoods-sf.com/AmandaMartin/
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