It’s Now a Buyers’ Market for Higher End Homes and Condos

“Months’ Supply of Inventory,” or MSI, shows the theoretical number of months needed to “absorb” available homes for sale in a given month based on the number of homes going into contract in a given month. The shorter the time period, the stronger the market for sellers, leading to upward pricing pressure.  Longer time periods indicate slower absorption and a buyers’ market.

The chart below illustrates the dramatic difference in MSI for homes up to the median price ($1.3 million for houses, $1.1 million for condos) and in the next price segment higher, versus the luxury home segment, defined here as houses selling for $2,000,000+ and condos for $1,500,000+. (By this definition, luxury sales currently make up about 20% of San Francisco’s home sales.) ...  Additional Details

Cheat Sheets for (Almost) Everything You Wanted to Know About Rent Control, Owner Move-In Evictions, and Condo Conversion in San Francisco

“June Gloom” has arrived in San Francisco. We’re talking about the weather, not the housing market, though buyers may well continue to feel gloomy as the market shows no signs of letting up. Both condo and home prices continue to hit record highs, with the average home selling for 10% over the original asking price.

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There may be a typical summer slowdown (reflected in the trailing drop in third quarter numbers above) as the

Union Square Tree Lighting

The 24th annual Union Square Tree Lighting on November 22nd, 2013, featuring Macy’s gift to the City of San Francisco and most recognizable Christmas tree. The 83-foot tall, reusable tree will be dressed with 33,000 energy-efficient twinkling LED lights. Continue reading