New Website, Market Update, $53+ Million in Sales, and of Course, Overbids – Welcome Back to theFrontSteps
It’s been a while since I’ve done any blogging of significance here on theFrontSteps, and it may be a while longer before things really start ramping up, but things are definitely looking good for the future. I’m still very much here, and very active in our market…In fact I closed over $53,000,000 in sales last year, clawed my way into the top 40 (maybe 30 depending on how it’s tallied) of over 6000 licensed San Francisco Realtors, and I’m officially taking theFrontSteps to the next level. Not bad. It’s all thanks to all of you.
If you haven’t noticed the new website (now with property search, and neighborhood market data) that we launched last Friday, clear your cache, and get after it. We’re still hammering out a few kinks and trying to add some simple features that vaporized into cyberspace, but trust we’ll get it done. Other than that, it’s almost business as usual here.
One major change (formal announcement coming soon) is theFrontSteps has gone solo…no more Keller Williams, no more Paragon, no more Zephyr…I am my own operation dedicated to providing best in class service for you and everyone you know when it comes to buying and selling San Francisco/Bay Area real estate, and I’m looking for good agents that want to join, good writers that want to report, and good people that value local, homegrown success, connections, and relationships.
Look for more on all of this soon, for now, it’s been a while since I’ve shared the Overbids, and even longer since I shared a little market update. So here you go…
SAN FRANCISCO’S TOP 20 OVERBIDS PAST 14 DAYS…not nearly as dramatic and mind-numbing as before, but still pretty darn impressive. See the reasons why in the Market Update below.
The data firm Core Logic and the California Association of Realtors recently reported that home sales dropped across all nine Bay Area counties year over year for nearly half of 2018. This comes as new data suggests that the actual price of a home is dropping as well.
Recently released figures for San Francisco show that the price of an San Francisco home (both houses and condos) dropped 4.31 percent since the previous month and 3.72 percent year over year, for a median price of just over $855,000, a number that is up 73.83 percent since December 2017.
The average SF area listing sticks around 51 days on the site. Compare that to spring of 2018 when the same figure was just 21 days, or the summer of the previous year when it was 24.
These stats refer to the larger San Francisco metro area, which includes Oakland and Hayward. In the South Bay, prices are down an even more drastic 11.5 percent year over year for a median price of just over $1 million. Like San Francisco and the East Bay, South Bay listings on the site last 51 days on average.
These figures come on the same day that the San Francisco Chronicle reports that the most expensive 2018 homes sold in the East Bay had to knock millions off of their asking prices. That’s technically anecdotal, but still intriguing in the face of larger statistical declines.
Click here for the full C.A.R. December Housing Market slideshow.
That’s gonna do it for today. Come check out this sweet little off market nugget in Mission Dolores on Sunday at 3pm and consider yourself in-the-know. 🙂
Happy Aloha Friday….go play til Monday.