San Francisco Housing Market Update for November 2011
While San Francisco markets do reflect a seasonal constriction of listings as we enter December, there’s significant anecdotal evidence of a greater dearth of inventory than usual, particularly in the just-under-$1M to $2M range. We see frustrated buyers crowding open houses and placing multiple offers on those few well-priced homes that remain on the market during the so-called “slow” months. Meaning, of course, that some prospective Sellers whose strategy it is to “sit tight” ‘til Super Bowl is over and the guacamole dip is gone may be missing opportunities. And while, to be sure, many prospective buyers are drinking egg nog in front of the fire and putting hotels on Boardwalk and Park Place, other, more opportunistic Buyers might well choose to pass Go and put offers in on REAL homes. If there were any out there.
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(Figures as of November 30, 2011)