Just a month ago we got the news that Compass was gobbling up Pacific Union and Paragon brokerages, we've just realized that Hill & Co is being acquired by Alain Pinel.
The difference between the two acquisitions seems to boil down to Hill management wanting to retain its "family owned" reputation. According to its president, Jay Costello, Hill had been approached by Compass but turned them down. Alain Pinel has over 800 agents compared to Hill's 80. However, a check of the state Department of Real Estate web site shows just 38 Hill agents and brokers.
The full story and perspective is available at the San Francisco Business Times.
BOLDSF.COM | insights, observations, commentary | San Francisco Bay Area real estate
Friday, September 28, 2018
Tuesday, September 25, 2018
New Listing Watch -- the fall season continues
New listings for condos and single family homes during the last two weeks were up just 4% from the previous two week period (461 vs 444). Compared to the same period a year ago new listings are up 14% (461 vs 403).
The majority of new listings were condos (272 vs 252 in the prior two week period and vs 241 a year ago). Single family homes accounted for 189 new listings compared to 192 in the prior two week period and compared to 162 a year ago.
The percentage of new single family home listings that went into contract during the same two week period jumped up to 11.6% compared to 8.9% during the prior period and compared to 8.6% a year ago. The percentage of condos that went into contract stayed the same compared to the prior period (9.6% vs 9.5%) but was higher than a year ago (9.6% vs 7.5%). For both single family homes and condos the percentage going into contract within the same two week period is still down compared to where we were in the period prior to Labor Day.
There was a significant jump in price reductions for both single family homes and condos. For this period there were 27 price reductions for single family homes compared to just 4 in the prior period and compared to 17 a year ago. The numbers for condos was 46 for this period compared to 34 for the prior period and compared to 34 a year ago.
The full report can be found at our web site:
www.boldsf.com
click on statistics.
The percentage of new single family home listings that went into contract during the same two week period jumped up to 11.6% compared to 8.9% during the prior period and compared to 8.6% a year ago. The percentage of condos that went into contract stayed the same compared to the prior period (9.6% vs 9.5%) but was higher than a year ago (9.6% vs 7.5%). For both single family homes and condos the percentage going into contract within the same two week period is still down compared to where we were in the period prior to Labor Day.
There was a significant jump in price reductions for both single family homes and condos. For this period there were 27 price reductions for single family homes compared to just 4 in the prior period and compared to 17 a year ago. The numbers for condos was 46 for this period compared to 34 for the prior period and compared to 34 a year ago.
The full report can be found at our web site:
www.boldsf.com
click on statistics.
Wednesday, September 12, 2018
Worth Remembering
Sometimes we forget to recommend the simplest things to our sellers that will help attract potential buyers. I wouldn't call them "slip-ups" -- if anything they are tips we agents need to give to our sellers:
(click image to enlarge)
(click image to enlarge)
Tuesday, September 11, 2018
New Listing Watch -- September comes in with a roar
Although a surge of new listings is totally predictable for the week following Labor Day, this year's surge is the largest since 2015.
There were 444 new listings in the last two weeks compared to 383 during the same period last year - a 16% increase. 192 were new listings of single family homes compared to 155 a year ago and 252 new listings of condos compared to 228 a year ago.
With the surge in new listings only 9% of single family home new listings went into contract during the same period and 9.5% of condo new listings went into contract. But both of those are higher than a year ago.
There were only 4 price reductions of the new listing single family homes -- down dramatically from the previous two week period when there were 14. Price reductions of the new listing condos more than doubled from 16 in the prior period to 34 in the past two weeks.
You can find the full report at our web site www.boldsf.com/Statistics
With the surge in new listings only 9% of single family home new listings went into contract during the same period and 9.5% of condo new listings went into contract. But both of those are higher than a year ago.
There were only 4 price reductions of the new listing single family homes -- down dramatically from the previous two week period when there were 14. Price reductions of the new listing condos more than doubled from 16 in the prior period to 34 in the past two weeks.
You can find the full report at our web site www.boldsf.com/Statistics
Tuesday, August 28, 2018
New Listing Market Watch - End of Summer
The title is a little misleading here in San Francisco where, from a weather perspective, summer starts after Labor Day when most of us will be thankful that the low cloud and fog that keeps our days gray will be mostly gone and sunshine will return.
A few interesting things to note in this report:
The total number of new listings in the last two weeks is up 9% compared to the same period a year ago (220 vs 201). We expect new listings to jump significantly the week following Labor Day so it looks like sellers have decided to get a jump on that market. All of this increase is in the single family home market (105 vs 79). New listings of condos is down compared to a year ago (115 vs 122).
Compared to the previous two week period the number of new listings is up slightly (220 vs 209). Again the increase is entirely in the single family home market (105 vs 94). The number of new listings of condos is the same as in the prior period (115 vs 115).
The number of new listings going into contract is up compared to both the prior period and compared to the same period a year ago. For single family homes there were 16 that went into contract compared to 11 in the prior period and 5 in the same period a year ago. For condos the numbers were 26 for this period, 17 for the prior period and 5 for the same period a year ago. We interpret this to indicate a strong demand by buyers.
Finally, the number of price reductions for single family homes remained virtually the same as the prior period (14 vs 13) and up compared to a year ago (14 vs 5). However, price reductions of condos was down compared to both the prior period and a year ago (16 vs 20 vs 21).
A few interesting things to note in this report:
The total number of new listings in the last two weeks is up 9% compared to the same period a year ago (220 vs 201). We expect new listings to jump significantly the week following Labor Day so it looks like sellers have decided to get a jump on that market. All of this increase is in the single family home market (105 vs 79). New listings of condos is down compared to a year ago (115 vs 122).
Compared to the previous two week period the number of new listings is up slightly (220 vs 209). Again the increase is entirely in the single family home market (105 vs 94). The number of new listings of condos is the same as in the prior period (115 vs 115).
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| click to enlarge |
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| click to enlarge |
Finally, the number of price reductions for single family homes remained virtually the same as the prior period (14 vs 13) and up compared to a year ago (14 vs 5). However, price reductions of condos was down compared to both the prior period and a year ago (16 vs 20 vs 21).
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