"Now that the rains have stopped we are looking for listings and
sales to grow. The pattern for the last month or two still prevails---open
homes are well attended, although sales still tend to be sluggish. Is
it the weather or a new seasonality or a market moving toward balance?
We will learn a great deal about this market in the month of May. We
had several open homes with more than a 100 attendees...
"Each market is a micro-climate. Even within specific markets
we have differing activity. The Peninsula and San Francisco are inventory
challenged. Plenty of buyers, but not enough listings in the lower price
ranges and in San Francisco we have a number of well-qualified buyers
in the $ 3-5 million range, but no listings---how about a 2 bedroom/
1 bath listing in San Francisco priced at $599,000 (a bit under priced)
received 25 offers---great time to list... We are seeing many more multiple
offers with the offices having between 30-60% of their transactions
involved in multiple offers...
"We are looking for more listings to come on the market. If they
come on well-prepared and priced at market we should see activity getting
a lift. Let the sun shine (remember Hair)!!
"Here are this week’s numbers---11 offices reported increasing
inventory, 14 steady and 7 decreasing---sales activity showe 5 offices
increasing, 16 steady and 10 decreasing."
Avram Goldman
President and COO
Coldwell Banker SF/Bay Area
