Wednesday, April 22, 2015

Price differential between condos and TICs - update

We recently updated our quarterly report that looks at the differential between condos and TIC pricing.  TICs continue to have lower selling prices than comparably categorized condos.

The differential in sales prices is higher this year than the same period two years ago for two of the three categories (1br/1ba and 2br/1ba).  In the third category (2br/2ba), there were only two units sold in the first quarter of 2013 averaging more than $1.1million so the differential between 2br/2ba condos is distorted.

In a difficult and competitive market, TICs remain an attractively priced alternative.

The full report can be found on our website.

Monday, April 13, 2015

Little change -- low inventory

I've been away from the blog for a while but, as far as inventory is concerned, you haven't missed much.  We continue to have lower than normal inventory and lots of demand.  And even in San Francisco that's a formula for lots of competition and, ultimately, sales prices exceeding asking prices by an average 7-20%.

From our latest report here's a graph showing new listings (single family homes and condos) during each two week period.

We've been doing this report for almost two years so you can see that compared to last year inventory has followed the same cycle (as it does most years) with the lowest inventory between Thanksgiving and Christmas and then a steady climb into the spring market.  The difference is the number of new listings during each two week period this year is noticeably lower than it was last year.

The full report can be found at this link.