"Happy Holidays. The market is pacing typical holiday markets.
Sales are slower. Listing inventories keep shrinking which is a positive
sign. Our inventory levels are under both 2002 and 2001. If open houses
are any reflection on the holidays it looks like we will have very good
retail sales. Open house activity has slowed down in most markets. However,
parts of San Francisco are still seeing brisk activity.
"The number of multiple offers has decreased overall. Even some
of the multiple offers are going for under list price. Some sellers
are receiving offers well under list price. Always interesting to note
the exceptions. In the Portero Hill area of San Francisco we had 12
offers on a $1,095,000. It went well over. This reflects both the scarcity
of inventory in certain areas and a home that is well prepared and priced
to sell.
"It has become more difficult to negotiate acceptable terms for
both buyers and sellers. It is taking several counter offers. This is
reflective of a balanced market. A market where both buyers and sellers
have compromise.
"Here are the numbers for the week of Dec. 4th-10th: 2 offers
reported increasing inventories, 11 steady and 17 decreasing-----sales
showed 5 offices with increasing sales activity, 12 steady and 13 decreasing."
Avram Goldman
President and COO
Coldwell Banker SF/Bay Area
