My Life as a San Francisco Realtor: Low Real Estate Inventory and High Demand in San Francisco

Low Real Estate Inventory and High Demand in San Francisco

Low Real Estate Inventory and High Demand in San Francisco

I recently had a successful sale with multiple offers in the Outer Parkside. Sold above asking. I've been having a difficult time finding homes for the four buyers that I have. And now Realtor.com confirms just what we have been feeling. If you want to buy a home in the San Francisco Bay Area, now is the time while interest rates are low and before prices surge upwards.

Inventory is down more than 50% in some areas over a year ago.

Low Real Estate Inventory and High Demand in San Francisco.

Top 10 metros for greatest year-over-year reduction in for-sale inventory, May 2012

Rank Metro For-sale inventory, percent change, May 2012 vs. May 2011
1 Oakland, Calif. -56.60%
2 Fresno, Calif. -48.76%
3 Bakersfield, Calif. -48.59%
4 Phoenix-Mesa, Ariz. -44.71%
5 Seattle-Bellevue-Everett, Wash. -42.65%
6 San Jose, Calif. -40.80%
7 Tampa-St. Petersburg-Clearwater, Fla. -39.76%
8 Stockton-Lodi, Calif. -39.25%
9 Atlanta -39.19%
10 San Francisco -38.90%

Source: Realtor.com

 

John M Scott, Broker / Owner, Scott Keys Properties, Certified Distressed Property Expert (CDPE), Council of Real Estate Brokerage Managers (CRB), serving San Francisco and the surrounding San Francisco Bay Area

Comment balloon 7 commentsJohn M. Scott • June 18 2012 09:15PM

Comments

John, that's a very good news. In fact, I see this happening a lot in many markets - including a few in our market.

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) over 6 years ago

When the prices surge the inventory will follow right in line.

There is a lot of counter intuitive market forces going on. 

Jobs are thea answer. 

Posted by Erv Fleishman, Luxury Prop Specialist Realty Associates (Realty Associates) over 6 years ago

That is good new John, but not being able to find homes for four of your buyers isn't such great news.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) over 6 years ago

John, it looks like many markets are starting to turn around now. People are going to wish they had bought already.

Posted by Malcolm Johnston, Trenton Real Estate (Century 21 Lanthorn Real Estate LTD., Trenton, Ontario) over 6 years ago

Praful, Multiple offers are back because there is so little available.

Erv, there are a lot of interesting forces at work...

 

Posted by John M. Scott, Broker / Owner San Francisco Bay Area (BRE # 01442690, Scott Keys Properties) over 6 years ago

Roger, I said it was difficult finding homes for my buyers. They've all got offers out there now. Hopefuly they will catch!

Isn't that the way it goes Malcolm. A year ago there was more inventory, but fewer buyers. Now it's the reverse.

Posted by John M. Scott, Broker / Owner San Francisco Bay Area (BRE # 01442690, Scott Keys Properties) over 6 years ago

You might consider adding your listing and market report posts to our group: City & State: Listings and Market Reports

 

Please read the guidelines for best results. Our members must being getting some web results because they add their posts on a regular basis.

 

Thanks

Posted by ActiveRain City and State Listing Group over 6 years ago

Participate