The Real Estate Market Remains Elevated Into December
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I hope you all had a long and relaxing Thanksgiving weekend! We have officially begun the holiday season and typically, the real estate market begins to wind down. The number of new listings declines, to finally plunge in December, with sales volume following one step behind. This year’s market has followed the same trajectory in late Fall markets, with a few more closings in November than in September. And overall, the number of closings is up, approximately 26% higher than past pre-pandemic years.
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The number of listings sold in November 2021 is almost 26% higher than November 2019, before the pandemic was declared
The pandemic’s impact on the housing market is still clearly seen: factors including shelter-in-place and its impacts on working from home and our sentiments on where we live prompted big changes in county-to-county migration. As many Sellers transition out of the city into the Bay Area’s surrounding counties, an influx of Buyers are descending on the housing market, opting for remodeled, turnkey homes.
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San Francisco's price appreciation equals a median sales price increase of about $200,000 over a relatively short period of time
This has caused a surge in luxury home and second-home sales, and many households more affluent than ever before. Currently, there is an unusual surge in home buying, just as the market enters the historically slow holiday season. There is great momentum for the beginning of 2022, but as we all have experienced, recent changes will be subject to future changes, as well as to brand new and possibly surprising factors as well. Sold numbers will post in January, following pending sales in December so stay tuned.
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$5 Million+ Markets
Bay Area and Tahoe/Bay Area
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Find out everything you need to know about the ultra luxe real estate market in the Bay Area and in Lake Tahoe
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Open Houses This Weekend
This list is a loose compilation of open houses in the city. As inventory and open houses pick up, I will send more neighborhood specific lists. Feel free to contact me for more housing inventory.
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According to Realtor.com, over one-third of today's sellers expect offers above asking price, but those looking to close quickly may be more willing to compromise than in the Spring.
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5 Bed | 4.5 Bath | 4,588 Sq. Ft.
Price TBD
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70 Landers Street
Mission Dolores
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545 Geary Blvd #3
Japantown
3 Bed | 2 Bath | 1,050 Sq. Ft.
Price TBD
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1328 28th Ave
Inner Richmond
3BD/2BA with Bonus Room
Price TBD
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JUST SOLD
631 LA MESA | PORTOLA VALLEY
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5 Bed | 3.5 Bath | 2,050 Sq. Ft. | Asking $3,488,000 SOLD $4,550,000
Sold $1 Million+ Over Asking Price
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JUST SOLD
2339 BRYANT | INNER MISSION
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4 Bed | 4.5 Bath | 3,185 Sq. Ft. | Asking $3,199,000
SOLD $3,300,000
Sold $101,000 Over Asking Price
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JUST SOLD
30 JUSTIN | BERNAL HEIGHTS
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4 Bed | 3 Bath | 2,531 Sq. Ft. | Asking $1,699,000
SOLD $2,070,000
Sold $317,000 Over Asking Price
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JUST LISTED | NOW PENDING
232 EVELYN WAY | MIRALOMA PARK
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3 Bed | 2 Bath | Asking $1,195,000
Seller Accepted An Offer For Over Asking Price
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NOW PENDING
419 LAGUNA ST UNIT 2 | HAYES VALLEY
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2 Bed | 1.5 Bath | 1,300 Sq. Ft. | Asking $1,395,000
Pending for Over Asking Price
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JUST SOLD
116 PARK STREET | BERNAL HGIEGHTS
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2 Bed | 1 Bath | 1,140 Sq. Ft. | Asking $835,000
SOLD $860,000
Sold $20,000 Over Asking Price
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Sold
3733 CLAY STREET
Presidio Heights
3 Bed | 3.5 Bath | 2,345 Sq. Ft.
SOLD $2,910,000
Sold $160K Over Asking Price
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Sold
458 2ND AVE
Inner Richmond
4 Bed | 2 Bath | 1,780 Sq. Ft.
SOLD $1,810,000
Sold $30K Over Asking Price
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Just Sold
711 4TH AVENUE
Inner Richmond
2 Bed | 1 Bath | 1,248 Sq. Ft.
SOLD $1,825,000
Sold $26K Over Asking Price
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Just Sold
1286 45TH AVENUE
Outer Sunset
4 Bed | 4 Bath | 1,898 Sq. Ft. SOLD $1,960,000
Sold $261K Over Asking Price
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