Pulse of the Market

Our bi-weekly look at early trends in the San Francisco real estate market:

Of course this covers the holiday period from just before Christmas so no one is surprised that the number of new listings is down significantly.  But this also shows there is less competition for the existing listings.

Total number of new listings for single family homes was down as was the percentage of those listings that went into contract within two weeks.  New condo listings was also down was essentially flat as was the percentage that went into contract within two weeks.

Pulse of the Market

Our bi-weekly look at early trends in the San Francisco real estate market:

Total number of new listings for single family homes was down as was the percentage of those listings that went into contract within two weeks.  New listings of condos was essentially flat and then percentage that went into contract within two weeks was down slightly.

Fall Back

Just a reminder if you're staffing or planning on attending an open house this on Sunday:

Pulse of the Market

Here's the latest edition of our look at new listings that go into contract within 14 days.

We use this statistic go help confirm our own observations and anecdotal evidence about whether the market is heating up or slowing down.  It gets us much closer to the point of decision making than most other statistics, including our own, that rely on sales prices that only become available after the property closes escrow.  In a normal market the decisions about offer and acceptance are made as much as six to eight weeks before the sales price is reported.

Interest Rates and Purchasing Power

"For every 1% rise in interest rates, home prices must fall by 10% in order for you to maintain the same monthly mortgage payment. And at the end of the day, that's what matters, the monthly payment. So take advantage of low rates; they add much more buying power to your purchase than low prices."

Dave Ness of Denver's Thrive Real Estate Group