During yesterday’s sales meetings, something unusual happened. After months of building inventory, we had our first week of more buyers than new listings. Here’s a little background and a look at what the most recent data is saying. Understanding Months of Inventory Months supply of inventory (MSI) is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are …
Author: Meredith Martin
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Here are tales from my two of my most recent sales in San Francisco, both of which happened from start to finish during the shelter-in-place orders. You learn a little something with every deal, and knowing just how far you can push a seller or buyer without losing the deal altogether is definitely an art form. Representing the Buyer 715 Hampshire Street was originally listed at $2,150,000 in May of 2020. The seller (a known developer in the city) picked …
There’s a standing joke about real estate agents as therapists, and there’s some truth to the idea. But listening and analyzing and advising aside, the job of a good real estate agent is to guide. And a big part of the guidance process is educating buyers by debunking all the inaccurate assumptions they have about the housing market. Here are seven all-too-common buyer beliefs most agents see all the time. My cousin/sister-in-law/great aunt is an agent and will totally help …
It’s been interesting year, to say the least, and real estate is one of many industries experiencing some wild swings. As we wrap up summer in San Francisco, we’re seeing the softest recovery from the spring shelter-in-place mandate out of all the markets in the Bay Area. Supply and demand conditions in condos are noticeably weaker than the housing market. Here’s what else the data shows. Median Sales Price On a three-month rolling basis, median house sales prices in San …
A recent look at buyers’ housing preferences and priorities pre and mid lockdowns can be summed up with this: there are a wave of buyers looking to trade up, but no one wants to compromise. The New Normal More time at home means a shift in priorities. Since the pandemic began, prospective buyers — which includes many who are looking to trade out of their no longer functional work and home spaces — have significantly changed their search parameters. The …
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