Better information means better decisions. Your market. Our expertise. Explore this quarter's real estate trends on our market update.
VALUE AND CREATING
As I mentioned, the summer market was a total mixed bag throughout the city based on neighborhood and price range. And of course, there was the typical slow-down that San Francisco experiences every year as people leave the fog. Fall has quickly come with a lot of fresh, new inventory and great opportunities for both buyers and sellers. With that said – we continue to have an extremely low absorption rate that has been hovering between 17% - 23% for the last several months. This is a buyer's market in most cases. Happy to chat more about these opportunities if you're interested!
Hope you’re all having a wonderful Summer! With the first half of 2023 behind us, it is interesting to see the mix of stats from the past six months. Despite the year-over-year comparison from the Spring of 2022 to 2023 below, when comparing the median sales price and volume from the past couple of months, San Francisco has been steadily increasing since the beginning of Spring.
Happy Spring! I am definitely looking forward to sunshine after all of the rain 😊 The real estate market seems to be all over the place. Looking at the year-over-year stats and absorption rate show that we are in a buyer's market but there is no doubt that good properties priced correctly are still selling. There are a lot of great opportunities out there and I'm always happy to help!
I will report back with fresh intel when we get more data in January. Feel free to reach out if you want to chat! I am always here to help.
Welcome to the Sotheby's International Realty 2023 Luxury Outlook. We hope this report helps you navigate this fast-moving and ever-changing real estate market. While conventional wisdom about supply and demand and interest-rate fluctuation would suggest luxury home prices should be falling, we simply did not see that happen in 2022. Prices, for the most part, remained steady in 2022.