GLEN PARK REAL ESTATE–January recap

The Pre-Spring Glen Park Market: Tight Inventory, Strong Buyer Demand

There are a LOT of buyers out there. We saw a fairly steady end to the year, with plenty of people actively looking for property, but an absolute dearth of inventory. That trend is continuing into January, as it often does, but buyers are definitely piling up as new listings continue to trickle in.

Single-family homes have been moving quickly, condos are starting to pick up, and multi-unit buildings are still lagging somewhat. Right now, there are just eight active listings in Glen Park, and only one of those is a single-family home. Given that Glen Park consists mostly of single-family homes, this is extremely low inventory. Yes, we are just into February, and many sellers wait to list until after the Super Bowl this weekend, but even so, inventory remains tight.

If you’re thinking about selling a single-family home in Glen Park, make hay while the sun shines! Rates have come down, buyers are active, and demand is strong.

For buyers, don’t fret. I do expect inventory to loosen up in the coming months. That said, be prepared for a search that may take a little longer than you are hoping for. Because of that, it is a great idea to get your ducks in a row early. Talk with a lender now to review your financial picture and understand how best to position yourself. That might mean saving a bit more for a down payment while you watch the market or exploring programs like CalHFA for first-time buyers or the Dream For All program. This program requires that you be the first person in your family to buy property. Registration for the Dream For All lottery is open from February 24 through March 16, so now is the time to get educated if you want to participate. I am always happy to share lender recommendations. Just let me know.

One property that quietly fell off the market last month was 30 Harry Street. If you’re not familiar with Harry Street, it’s really just a long staircase “street” that connects Glen Park and Noe Valley. The property had been on and off the market for quite some time, and you may have seen my comments about hoping to find the right buyer. After spending time abroad and starting a new life elsewhere, the owner heard the siren song of the Harry Street stairs pulling him back. I do feel fortunate that I at least got the chance to go up on the roof and take in the exceptional view!

Now, for the Glen Park Transactions/Listings for the month of January:

Here’s a look at what sold in the month of January–