The Glen Park Association

Up-to-the-minute news from Glen Park

GLEN PARK REAL ESTATE–July recap

by

August is upon us — time to tie up loose ends and gear up for the fall market.

Much of the current inventory has been sitting for a while, though we’re seeing a slight uptick in newer listings. Last month only a couple of properties had been on the market for less than two weeks; now there are four. It’s a small signal, but it may indicate some early momentum.

I’m hearing buzz throughout my network that more sellers are eyeing a pre–Labor Day launch. The thinking? Buyers are out there, and if your home has broad appeal, you may benefit from listing now—before the usual post-holiday flood of competition hits. Hopefully this also means more options for buyers on the horizon.

There were six closings in Glen Park in July, which is typical for this time of year—maybe even a touch strong. Days On Market remains low for sold homes but continues to creep up for active ones. That tells me that the homes checking all the boxes are still moving quickly, while those that are more niche or have challenges are taking longer. I’m optimistic we’ll see more absorption in the fall, but that will depend on several factors: How many buyers are out, where interest rates are, how confident people feel about the economy and geopolitical situation, and how much new inventory comes online.

One helpful metric to keep in mind is Months of Supply of Inventory (MSI), which refers to how long it would take to sell all current inventory at the current pace of sales. Right now, Glen Park is under 2 months, and San Francisco overall is under 3 months. For context:

  • A balanced market has 4–6 months of supply
  • A seller’s market is under 4 months
  • A buyer’s market is over 6 months

So technically, we’re still in solid seller’s market territory—though, as we all know, it’s a lot more nuanced in San Francisco. For comparison, the highest Months of Supply of Inventory (MSI)  I could find on record was during the height of the crash in July 2009, when it peaked at about 8 months.

🎥 Check out my Q2 Market Update for San Francisco on YouTube

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

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

Here’s a look at what’s currently in contract–

And lastly, the inventory that is currently available in Glen Park–

As we head toward the end of summer and the start of back-to-school season, I wanted to share a great swimming/kayak/paddle spot I just discovered. While staying with my family in Auburn (my son was attending a basketball camp there), we stumbled on Lake Natoma—adjacent to Folsom Lake. It’s a narrow lake, much like a river, with crystal-clear water and no motorized boats allowed, which made it perfect for paddling. We rented a kayak, explored the lake, jumped into the invigoratingly cold water, and had an all-around amazing day. A quintessential summer outing—and only about two hours from San Francisco. Highly recommended!