New Listing Watch -- pre Memorial Day

There were 319 new listings during the past two weeks which is fewer by 10% compared to the previous two week period and also compared to the same period a year ago.  Most of the fall off is in the condo market where new listings dropped from 206 in the prior period to 178.

14% of new single family homes listings and 18% of new condo listings went into contract within the same two week period.  That's down a few points for single family homes compared to the previous period and compared to the same period last year.  It's also down for condos compared to the prior period but higher by almost 4% compared to a year ago.

Price reductions were up compared to the prior period for both single family homes (12 vs 7) and condos (25 vs 4).  But price reductions are down compared to a year ago.

The full report can be found at our web site:  www.boldsf.com

Trump and the National Association of Realtors

Invited to address the NAR at its (annual?) meeting last week in Washington, the New York Times reports:

By the time the president took the stage before the National Association of Realtors in Washington on Friday, he was in a feisty mood. 

He recalled that a consultant tried to make work for himself by identifying environmental concerns on a property Mr. Trump wanted to develop. “I fired his ass so fast,” the president recalled.
He told the Realtors that he used to refuse to pay brokers their traditional 6 percent commission and instead gave them just 1 percent. 

“I was famous for that,” he said. When they booed, he quickly retreated. “Don’t worry. Nobody accepted it. But I tried like hell.” 

Then he went after one of his favorite targets — journalists — claiming that recent reports of infighting within his national security team were made up. “There is no source,” he said. “The person doesn’t exist. The person’s not alive. It’s bullshit, O.K.? It’s bullshit.” 

And with that, the television networks had to hit their bleeper again.

This is disappoint (but not surprising) to hear the President of our country behave this way.  (Click on the link above for the full story).

What not to do when selling your home

We see articles like this with similar headlines all the time but this recent article in the Washington Post hits most of the important points:

Letting ego or emotion affect the sale

Overlooking extra fees at closing

Not staging a home

Putting bad photos of your house online

Trying to sell the house yourself

Pricing your home too high

Failing to make necessary repairs

Failing to disclose a defect


Click here for the full article.

New Listing Watch -- fewer listings, faster sales

New listings in the last 14 days are down about 10% compared to the previous period and compared to the same period last year.  Most of the reduction is in condos (165 new listings compared to 192 two weeks ago and compared to 189 a year ago). 

The number of new single family listings that went into contract in the same two week period has increased strongly compared to the prior period (18.8% vs 13.9%).  The increase for condos was modest at 24.8% vs 23.4%.

The number of price reductions is down compared to the previous period (8 vs 11 for single family homes and 20 vs 27 for condos) and compared to a year ago (8 vs 13 for single family homes and 20 vs 29 for condos).

At the beginning of April the total number of active residential listings in the five categories we track* in San Francisco was 338 which is up about 11% compared to the same time last year but down compared to 2017 and 2016.

The full report can be found on our web site:
http://www.boldsf.com/Statistics%20test/Statistics.html






*Every month we survey sales and active inventory for five categories of condos and single family homes in San Francisco.  Those five categories comprise approximately 51% of residential sales in San Francisco.  The categories are:  2 bed/1 bath single family, 3 bed/2 bath single family, 1 bed/1 bath condo, 2 bed/1 bath condo and 2 bed/2 bath condo.

New Listing Watch - after up comes down

New listings for the two week period ending March 25 were down slightly from the prior two week period (283 vs 289) and down significantly from the same period a year ago (283 vs 334).

Compared to last year both single family homes new listings and condo new listings were down almost 20%.

Of those new listings both condos and single family homes saw 16% go into contract during the same two week period.

Price reductions were down from the prior two week period (27 vs 34) and down compared to a year ago (27 vs 36).

The full report can be found at our web site.