December 2, 2016

No holiday bargains for San Francisco real estate

Conventional wisdom often says that spring is the best time to sell a home and that winter (with its cold, rainy weather and likelihood of holiday travel) is the worst. But new data from Redfin shows that while, yes, spring does see the quickest sales and the greatest likelihood for selling above list price, winter is actually a close second.

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent,” according to the nationwide report. “While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.” The report found that summer and autumn were actually the worst times for sellers to list since buyers with kids typically like to be settled in well before school begins, so there is less competition at that time.

In Oakland, 31.2 percent of homes sold above list price in spring and 27.5 percent sold above list price in winter, which is a higher figure than in summer or fall. In San Francisco, consistently low inventory led to a situation where 34.8 percent of homes sold above list price in spring; that number drops to just 32.3 percent in winter. In spring, 54.5 percent sold within 30 days; in winter, that percentage dropped just slightly to 53.5 percent.

“As in most real estate markets throughout the U.S., we do see somewhat of a slowdown around the holidays in San Francisco,” said local Redfin Agent Mark Colwell.”There’s always a bit of a dip in prices and closings in January, reflecting a slight cooling in December transactions. With that said, relative to other areas of the country, San Francisco real estate really knows no season.”


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