Dear Friends,

The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints force some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction single-family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development.

 

SAN FRANCISCO data is as follows*

 

Compared to Oct 2020, in Oct 2021:

New Listings were down 40.2 percent for single family homes and 28.5 percent for Condo/TIC/Coop properties.

Pending Sales decreased 14.1 percent for single family homes but increased 18.3 percent for Condo/TIC/Coop properties.

Median Sales Price was up 12.8 percent to $1,810,000 for single family
homes and 8.5 percent to $1,250,000 for Condo/TIC/Coop properties.

Months Supply of Inventory decreased 55.3 percent for single family units and 66.4 percent for Condo/TIC/Coop units.

 

*Please contact us for the San Francisco Association of Realtors complete data report.

 

BAY AREA

We've also included Snapshot links for the counties below from the California Association of Realtors. 

MARIN

SAN MATEO

ALAMEDA

CONTRA COSTA

 

OUTLOOK, per SFAR:

As temperatures drop, existing home sales continue to be plentiful, buoyed by
strong demand, low interest rates, and a slight uptick in new listings in recent
months, according to the National Association of REALTORS®. With interest
rates inching upward, and experts expecting further rate increases on the
horizon, motivated buyers are hoping to lock in their home purchases to take
advantage of what are still historically low rates.

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Now, more than ever, it's crucial that Buyers and Sellers align themselves with a knowledgeable Realtor who understands the dynamics of our unique Bay Area market. If you or someone you know is looking to purchase or sell real estate, we’d love to put our knowledge to work to help you achieve your real estate goals while minimizing time, costs and liability.

 

Sending warm wishes for a Happy Thanksgiving!  

The months of November and December are perfect times to declutter for several reasons:

Due to COVID, there are more people than ever in need of items and products we do not use.

The government offers certain tax deductions when we donate these items. See: Publication 526 (2020), Charitable Contributions | Internal Revenue Service (irs.gov)

Finally, let's be honest - it feels so good to ring in the New Year with a fresh / decluttered outlook!

Currently, our clients are donating to the following non-profits:

Dress for Success

Friends of the SF Public Library

St. Anthony's 

Do you have a special non-profit to which you donate? Feel free to send us an email so we can share with our clients who are decluttering or clearing out their homes to prep for a property sale!