Get San Francisco Condo News Before It Happens

Get San Francisco Condo News Before It Happens

Condo real estate news for Mission Bay and South Beach is sometimes hard to decipher in San Francisco’s turning market. There are buyers still out there looking for condo specific amenities: turnkey living and very low home maintenance, even though condo closings have relaxed in a turning market where single family homes are preferred. The number of condo sales in comparison to last year is less, but price per square foot is holding. The difference is that there is more condo inventory now than last year.

south beach and mission bay condo news

The slightly more favorable lending environment, coupled with a higher level of housing supply, may provide a window of opportunity for buyers who have been avoiding the last year of hot competition. The average 30-year fixed rate mortgage, in fact, dipped to the lowest level since mid-April, according to Mortgage News Daily.

Fluctuating mortgage rates are affecting condo news
Freddie Mac observes mortgage rates by the week. Last week, rates fluctuated above 5% then came down again.

Getting The News Before It Happens

According to some agents, buyer interest has begun to rekindle with increased inventory and large rebounds in the stock market. The stats around buying activity is a lagging indicator, and to really see a recovery, we’ll have to wait until the end of Quarter 3. Staying ahead of the market instead of the wait and see approach is probably the best approach for a buyer right now. For real time condo news in the highrise neighborhoods, you can always reach out to me for the latest market info.

Generally, mid-late summer is usually a much slower period compared to the spring selling season. Autumn typically sees a very substantial spike in new listings and sales prior to the big mid-winter slowdown. Timing is everything. If you want to pull the trigger on a purchase before the end of the year, I can help you achieve that goal.

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