Summer, Real Estate, and San Francisco

by Meagan Levitan

Question: What are the real estate signs of summer?

Answers: Still available! Price Reduced! Motivated Seller! Back on the Market — at no fault of the property!

Whether it’s the fact that people are out of town or simply that sellers have become too confident in San Francisco’s market, there’s an increase in the number of notices I receive from fellow agents hyping that their fabulous listing is “…hard to believe but still on the market…” or perhaps making a price reduction.

Recent reports in a certain local newspaper found that San Francisco sales are down but that sales prices are up — great if you’re a seller, not as great if you’re a buyer. News of the impact of subprime loans hasn’t helped the overall climate, either. Nevertheless, the City’s real estate market remains stable — and then some.

Inventory has dropped off — as witnessed by a paucity of new listings for the weekly broker’s tour on Tuesday. It was bound to happen, just as the thick, pea soup-like fog was bound to enshroud our city. Alas, it’s summer in San Francisco.

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