Now that we are a month into the new year the bump in activity is becoming evident. Open homes are getting busier. Shockingly, open homes on Sunday Feb. 4th during the torrential downpour were filled with steady traffic. Buyers are coming out and they are serious. They are seeing change in the wind and beginning to get the message that we may be returning from the proverbial bottom.
Rates are about a point lower than they were at their height towards the end of last year, and it’s looking like the Feds may be making a number of interest rate cuts before the end of the year. All of this bodes well for a leveling out on the rates. This should open up some inventory (which has been woefully low) and get some buyers more excited about buying. So that should be a win-win situation. With regard to activity – we are seeing a lot more people kicking the tires, and even though there is still a low percentage of offers to disclosures requested, there does seem to be a return of multiple offers becoming the norm.
My year started out a little slow (as it does typically), but I can feel the shift of momentum. For those who may be considering selling their property, my advice is to get it on the market as soon as possible while the buyers are ready to go and the inventory is still quite low. Supply and demand always rules the day!
Now, for the Glen Park numbers for January–
Here’s a look at what sold in the month of January:
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/
Amanda MartinIF YOU HAVE QUESTIONS OR REAL ESTATE TOPICS YOU’D LIKE ME TO ADDRESS IN THIS COLUMN PLEASE REACH OUT AND LET ME KNOW!