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How is the market? That is what I get asked every single day from at least one person. My answer is always, depends on the property.
Forbes.com just released a Top 10 Best Cities for Home Sellers list by analyzing and comparing "job growth, amount of new construction, vacancy rates, and credit availability" in the top 40 metro areas in the United States.
And San Francisco ranks #2, just behind San Jose, CA and above Salt Lake City and Austin, TX!
There are buyers in San Francisco and when the conforming loan limit recently jumped from $417,000 to $729,750, it made it easier for them to get financing. In addition, our economy is still doing well, and perhaps more importantly, it is more diversified than in 2000 during the dot.com revolution.
It is definitely not a market where every property goes over asking with multiple offers, but there are certainly properties that are getting multiple offers and going 6-figures over asking. And more than just a few. At the same time, there are properties that are sitting, and not selling at all. For these properties, it seems like no matter how much the agents lower the price, they still sit.
The tale of two markets, which is quintessential San Francisco.
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