Weekend Events and The Weekly Real Estate Update

Friday-Banner

It’s the long, 3-day Presidents’ Day Weekend, and it promises to be sunny even though it’s the middle of February. Perfect time to head out to AT&T Park for the KNBR Giants FanFest on Saturday, or head over to Justin Herman Plaza on Sunday for The Great San Francisco Pillow Fight, or enjoy one of ten free guided neighborhood walking tours on Monday.

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 2/7/16 – 2/13/15:

Industry news source “First Tuesday Journal” reported that based on the numbers San Francisco had the most competitive housing market in California in 2015. Homes almost always sold above the asking price and homes didn’t typically remain on the market very long.

The report also says that there were only 143 new listings in San Francisco in December 2015 – 18 percent below a year earlier. What’s more, the most competitive neighborhoods in San Francisco were Central Sunset, Noe Valley, and the Richmond District.

There are of course many reasons why this market is so competitive, but perhaps none is more compelling than this: In the past five years, the San Francisco area has added 480,000 private sector jobs and only around 50,000 housing units. No wonder the competition among homebuyers is so often fierce.

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