The Crunch in San Francisco's Real Estate Market-Over and Under Asking

Is Everything Selling Over the Asking Price?

 No, of course not: not all listings are selling for over list price. Some homes still go through price reductions and some don't sell at all, but it is true that a large percentage of SF listings is now selling for over asking price and sometimes far over. This is especially the case with houses, where 1 in 4 sold in the past 2 months went 10% or more over the list price. (Note: Homes selling for within a quarter percent of the list price were considered to have sold AT asking price.)

Over Asking Under Asking Offers

The chart below shows the dramatic increase in median home prices in 2012.

 

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Simone Koga | Paragon Real Estate Group

1400 Van Ness Ave. | San Francisco, CA 94109

415.706.1586 | Simone@SimoneKoga.com

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