The SF market is still strong for sellers yet there are signs of a change with fewer offers on offer dates, some price reductions, and some properties staying on the market longer than before. Nevertheless, it is still a seller’s market in SF with less than 3 months of inventory.
What this means is that it would take less than three months to sell all of the inventory currently on the market. If there were 3-6 months of inventory, we would be experiencing a balanced market. More than 6 months of inventory on the market is a buyer’s market. With this in mind, the following article in the NYT today about tips for buyers in a seller’s market, while national in scope, applies to SF as well: http://www.nytimes.com/2016/05/12/your-money/tips-for-house-hunting-in-a-sellers-market.html
If you are a buyer and need help getting into this tight market, don’t hesitate to give me a call.
