Weekend Events and the Weekly Real Estate Update

Skyline -Its Friday Banner

This weekend don’t miss the Indonesia Day Festival which will take place in Union Square this Saturday from 11am to 4pm. It is an annual event which celebrates Indonesian dance, food and culture. More information on this event can be found here. 

The SF Etsy Summer Pop-Up Market is a weekend-long event in Ghirardelli Square where over 60 artisan street vendors will be selling unique goods throughout the day.

If you are looking for something different to do this Saturday evening “Lost in Translation” will be screened in Washington Square Park at 7:45pm as part of the “Film Night in the Park” series.  Get there early to secure a good spot!

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 8/21/16 – 8/27/16:

After years of huge rent increases, why has the rental market softened a bit in San Francisco? Emily Landes, a writer for SFGate’s “On the Block,” suggests that increased construction may have caught up with demand.

She points out that after years of slow apartment development, San Francisco is actually expecting to see over 9,000 new units come to market in 2016. That boosts rental inventory by 126 percent over 2015’s numbers, according to her source, RentCafe.

Rent growth for San Francisco is projected to be only 3.7 percent this year – way down form the double digit increases we had been seeing. It’s interesting to note that the nation’s highest rent growth currently belongs to Sacramento, at 11 percent. Very short supply and strong job growth appear to be the culprits there. Sound familiar?

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