Inventory Down? Up? Down Again? Prices Definitely UP!!
It has been an interesting 5 months for the San Francisco real estate market so far this year.
We started the year with a mere 128 single-family homes for sale. By mid-May that number had doubled to 255 houses but now it has declined slightly to 242 houses for sale.
Condo inventory declined over 12% from 319 as of two weeks ago to only 280 today (May 29, 2013).
In contrast to the declining inventory, prices are going up in double digits. Some reports say that houses went up 20% in value since last year and condos 25%.
According to our local association of Realtors, prices went up 32% year-over-year from April, 2012.
For other interesting statistics on home-buying in San Francisco and our real estate market, please check out my Facebook page: https://www.facebook.com/RebeccaRealtor