Weekend Events and the Weekly Real Estate Update

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It’s forecasted to be a bright and sunny weekend here in the City, so outdoor activities are a definite must. This Saturday why not head to Treasure Island? Take a trip to the Treasure Island Sailing Center and celebrate the Opening Day on the Bay where there will be free sailboat rides, kayaking and stand up paddle boarding – perfect for the sunny weather!

On Sunday check out the How Weird Street Faire where you will catch the weird and the wonderful roaming the streets of SOMA. Expect lots of live music and an array of street art, mixed in with some bright colors and a party atmosphere.

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 4/24/16 – 4/30/16:

Real estate consultant Carole Rodoni was in our office the other day, talking to us about the market as she does about once a quarter. Many of her remarks later appeared in the column she wrote this past Sunday for the San Francisco Examiner.

Carole contends that we are beginning to see a softening of sales at the higher end of the market ($4 – $5 million and up). Buyers are being more cautious, and as a result homes are remaining on the market longer than they once did, and we are even beginning to see price reductions among these properties.

Meanwhile, entry level homes ($500,000 – $1.5 million) continue to be red hot with multiple offers, lots of cash buyers and very little inventory. The middle tier of the market ($1.6 million – $3.9 million) seems somewhat more balanced, and prices in this range are remaining steady. Keep in mind a more balanced market is a healthier market, and that of course is better for all of us.

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