Weekend Events and the Weekly Real Estate Update

March '16 - It's Friday

OutsideLands hits Golden Gate Park this weekend, with thousands of people expected to attend the festival. If you live in the vicinity of the park there may be many road closures/diversions in your area. Find out everything you need to know here.

If you are not attending the festival, why not check out the 43rd Annual Nihonmachi Street Fair in Japantown Saturday and Sunday. Alternatively, head to the Stern Grove Festival on Sunday  to experience a free concert by rock and roll Hall Of Famers “The O’ Jays”.

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 7/31/16 – 8/6/16:

Earlier this week the real estate website Curbed SF reported that for the second month in a row San Francisco’s rents were cheaper than New York City’s. According to Curbed, this hasn’t been the case for years.

Curbed quotes an ApartmentList.com report, which found that the median rent for a two-bedroom apartment in San Francisco in July was $4,730 a month. In New York City, the median rent was $5,130 a month. That’s a tiny year-over-year increase for NYC, and a significant 2.6 percent decline for us.

Some reports may offer different numbers, because when comparing the two cities, ApartmentList focuses on Manhattan alone. They suggest this provides a more accurate picture of the two markets. The big takeaway here for all of us is that rents are finally coming down a bit in San Francisco.

 

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