Short-Term & Long-Term Appreciation Trends
After the heat of the spring market, activity typically slows down markedly in July and August. In September, listings start pouring on the market again to fuel the relatively short autumn selling season – in fact, September is typically the single month with the highest number of new listings. Autumn is also a very important time for the luxury home market – luxury house sales often peak for the year in October.
San Francisco is out-performing the Bay Area – most of the other counties have seen 3% to 5% declines in median home prices since peaking in spring 2018, while the city saw a new monthly peak in June and a new quarterly peak in Q2. It has been suggested that the differentiating factor in SF has been the high number of large, local, high-tech IPOs occurring this year since early spring.
Since July 2018, we have seen many sales in the $2 million range in all neighborhoods across San Francisco. 204 3-bedroom condos sold and 125 2-bedroom condos sold citywide since last summer. In fact, condos that sold for over $2 million had the most sales since in August since 2015.
The supply of condos valued over $2M continues to increase over the years due to new condo offerings. Demand appears to be softening in this price range, however, what occurs in the next 2 months, before the mid-winter holiday doldrums begin, will be the next major indicator of market conditions and direction.
Migration: People Moving In & Out of San Francisco
Using new U.S. Census estimates released 8/29/19, this chart attempts to identify U.S. counties, states and international regions with the highest number of residents migrating to and from our county. In the Bay Area, there is a general trend outward from more expensive to more affordable places, while in-bound migration is deeply affected not only by exchanges between Bay Area counties, but people arriving from other parts of the state, country and world. Areas often have large two-way exchanges of residents.
Foreign in-migration is a huge issue in SF and the Bay Area, but it will be another year before any impact of new U.S. immigration policy on foreign in-migration in 2018 shows up in census numbers. The census estimates foreign in-migration in this analysis, but not foreign out-migration.
Early to List. Early to Sell.
Launch your listing twice with us! During this effective premarketing phase, we give potential buyers an early look at your property as we are preparing it for sale. We also share your property offline with other agents that have interested and pre-screened buyers. As we are softly launching your property, we make sure to advertise quietly yet strategically, always on your terms without public exposure or pressure.
And it works! Nearly half of my properties this year sold off market using private listing tools such as Compass Coming Soon and Aalto, even before we started to prepare for the market.
355 1st St #2604
We created a buzz by giving the agent community status updates as we prepped this property for market. With our off market strategy, we were able to let serious buyers know that this unit was for sale, while also giving the sellers ample time to pack and relocate. On MLS for only 6 days.
355 1st St #2702
Private sale representing Buyer and Seller. Sold For the Highest Price sold at The Metropolitan, ever
333 1st #105
Found the buyer prior to staging the property. Seller saved on staging costs
333 1st St #203
Private sale representing Buyer and Seller
170 King St #729
Found the buyer prior to renovating and staging the property. Seller saved on staging, painting and re-flooring costs.
Property Marketing Concierge Services
Our real estate services are designed for real life. With SFHIGHRISES, we have flexible options for getting your property on the market whether privately or publicly.
We also can front the charge of home improvement services such as staging and painting so you can increase your property’s value and be the best looking listing on the market. We will oversee the scheduling and manage all tradesmen for your renovation project so we can get your listing on the market as soon as possible.
A few great photos of your property is all you need on the Internet to attract attention and more page views, which leads to more request for showings. Virtual staging technology shows your property in the best light online without having to lift a finger. Our photographer takes photos of your property as-is, virtually declutter the rooms by removing personal furniture and then stages the property with modern furnishings. No clean up or move out is required on your part to list your home privately. Interested in receiving more information? Call me at 415.497.1798 or email me at [email protected]