The San Francisco holiday home stretch is on! I am betting that buyers and sellers will be making some deals between now and the end of 2022. Serious sellers will be keeping the higher interest rates in mind and will be prepared to negotiate. Buyers who are preapproved for a loan or can pay in all cash may be motivated to get into a new place before New Year’s at the right price.
To help you sort through the inventory, here’s a look at what’s out there:
Single-Family Homes
Number available: 326
Number available at this time in 2021: 185
Median list price: $1,800,000
Avge days on market (DOM): 68
Where the inventory is: Bernal Heights, Cow Hollow, Excelsior, Glen Park, Ingleside, Inner Mission, Noe Valley, Pacific Heights, Visitacion Valley
Pro Tip: More than half of all single-family home inventory is listed for $2M or less. And yes, there are plenty of $3M+ homes available which have been on the market for an average of three months. If you have the budget for the higher-end of the market, go in there with your negotiating guns blazing.
Condos
Number available: 699
Number available at this time in 2021: 516
Median list price: $1,188,000
Avge DOM: 88
Where the inventory is: Dogpatch, Potrero Hill, Downtown/Financial District, Hayes Valley, Inner Mission, Mission Dolores, Mission Bay, Nob Hill, Pacific Heights, Russian Hill, South Beach, South of Market, Van Ness/Civic Center, Yerba Buena
Pro Tip: Condos in larger buildings in the more urban areas of San Francisco are widely available at the moment. Go for the gold and make sure you get a unit with parking, in-unit laundry and a view of something besides someone else’s window.
TICs
Number available: 88
Number available at this time in 2021: 66
Median list price: $912,000
Avge DOM: 64
Where the inventory is: Eureka Valley, Inner Mission
Pro Tip: There are quite a few two-bedroom TICs listed for under $1M in convenient locations. They may not be properties with parking, but setting yourself up in a transit-friendly spot will be good for resale value.