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GLEN PARK REAL ESTATE–May Recap

June 11, 2022 by Amanda Martin

Summer is upon us! Historically, summer tends to be a slower season in San Francisco in general for real estate sales. During the last couple of years of pandemic lockdown, we haven’t seen that pattern as much because people were not traveling, but rather, they were moving into larger or more accommodating living spaces.

There are a lot of factors coming together right now that are shifting our market. People are traveling – this is evident by the very long lines for passports over the past month and the chatter on the streets. There is inflation, a skittish stock market, crashing crypto, geopolitical unrest, rising interest rates, and the changing landscape of work. We had reached a fever pitch of overbidding and underpricing and now we are finally starting to see some balancing out of the market. I think this balancing is needed and will help bring some sanity back to the market and pricing.

One big indicator in the market has been the increase in price reductions citywide. In March there were 43 price reductions citywide, in April that number jumped to 86, May came in with a big increase to 204, and so far in June (as of June 9th) we have already had 100! The good news here is that NONE of those were in Glen Park. Sellers may not get the 7-8 offers they were getting before, but if priced and marketed correctly, properties should still receive a couple of offers due to the ongoing scarcity of inventory, and hey, it only takes one!

Sales in May were still quite strong, and we are really only now starting to see the slowdown in pace of things in June. It will be interesting to watch where things end up in the June/July/August numbers (stay tuned!). From being out and about on broker tours in Glen Park, it seems like single family homes that are checking a lot of boxes are still very hot commodities. The biggest shifts are happening in SOMA and Inner Mission, and especially in larger newer construction condos.

Here’s a look at where things are this month versus May of 2021. Keep in mind that we are looking at a pretty small sample size, so this has to be taken with a grain of salt.

If you’re looking for a property in the neighborhood, or just curious about the current inventory, here’s a list of the active properties in Glen Park as of 6/9/22:

As always, if you want any more information about the market, please don’t hesitate to reach out to me. I’m always happy to talk real estate!

For more San Francisco sales data, visit: thegoods-sf.com/AmandaMartin/

Amanda Martin
BarbCo Real Estate Group
415.601.9111 (Text/Call)
Amanda@RealEstateSF.com
License #01386284AmandaMartinSF.com
My Real Estate Stats Webpage

Filed Under: Real Estate, Uncategorized

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IMPORTANT UPCOMING DATES

June 25, 10am to noon
Neighborhood Cleanup – GPA, GPMA, Refuse Refuse
Meet at Critter Fritters, 670 Chenery, for supplies


July 9: Japanese Taiko Drumming with Kristy Oshiro at the Glen Park Library


July 10: Gum Tree Girls Festival



Jean Connor: Collage
San Jose Museum of Art
FREE!
The show for this Glen Park resident’s work will run until September 25.

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Glen Park Association
3 days ago
Glen Park Association

Join the GPA and GPMA for our monthly two hours of cleaning our streets this Saturday, June 25, 10 a.m. to noon. Meet at Critter Fritters and grab a picker! ... See MoreSee Less

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Glen Park Association
3 days ago
Glen Park Association

Join the GPA and GPMA for our monthly two hours of cleaning our streets this Saturday, June 25, 10 a.m. to noon. Meet at Critter Fritters and grab a picker! ... See MoreSee Less

Join the GPA and GPMA for our monthly two hours of cleaning our streets this Saturday, June 25, 10 a.m. to noon. Meet at Critter Fritters and grab a picker!
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