While the number of homes listed for sale in San Francisco is currently running 53 percent higher than at the same time last year, the number of homes in contract is running 10 percent lower.
In addition, the average list price per square foot of all the homes in contract has dropped to $880 versus an average of $900 in December of 2017.
Its amazing how many realtors there are in the City, and firms like Compass have signs everywhere, even with the 10% down. How come they are expanding so much?
Because it’s a job you can transition into from anything, as long as you pass an exam, and if you’re successful (hope springs eternal), you can make a comfortable living to finance your decadent lifestyle choices and not have to work too hard at it. Guys all over the heartland probably look at Fredrik Eklund on TV, and think: “I can do that, just on the West Coast!” And then they move here.
When ss posts those employment numbers for SF and the Bay Area in general, it would be wonderful to see the trend in residents with an active real estate license. I know they have access to the data.
Both Uber and Lyft have filed initial ipo paperwork so they should happen no later than April. Will be interested to see if and how these equity events will impact the market
April + 90-180 days for staff and investor lockup.
Have to wonder when the Treasury Department’s Financial Crimes Enforcement Network new rules for SF real estate will start to affect demand.