Springtime has traditionally been the most robust real estate selling season of the year, but 2023 is bucking the trend in a very significant way. As buyers have generally shrugged off the local banking crisis, high interest rates and some contraction in the tech sector, available homes to purchase have become more scarce. When looking at overall inventory in the City, the Spring selling season began in March with 35% fewer new listings than last year and total active listings are down 23% year over year. Sellers seem to be staying put, most likely content with their sub 4% interest rates. Still, with mortgage costs 43% higher than just 18 months ago, buyers remain very picky despite fewer homes to buy. As the dust settles in the coming months from these market forces, pricing data will reveal whether supply or demand wins the “tug-of-war.” 

These new market forces demand adding new approaches to buying and selling real estate. If you or someone you know is ready to consider buying, leveraging our connections and extensive networks for off-market opportunities is a critical addition to the traditional MLS searching. For sellers, we’ll identify strategic upgrades and the appropriate list price strategy that will make picky buyers swoon so you’ll achieve optimal results.

Below, check out the latest news on the San Francisco real estate market, some of our listings and don’t miss fun things to do in SF along with our team’s pick of the month!

We look forward to connecting. Dale can be reached at 415.748.1519 and Alla at 415.748.2550. Please stay safe and healthy!

SEE MORE San Francisco MARKET TRENDS HERE

Click HERE for a San Francisco Neighborhood Price Map

Below is a look at long-term median sales price in SF since 2012. Year over year, home sales are down 18%, and condo sales are down 7%, but real estate sales were at an all-time high post-pandemic in 2021 & 2022.

Dale + Alla Team Take

San Francisco Real Estate remains a good investment over time.

Love these transformations! Preparing your property to show is not just a matter of taste but of STRATEGY–where cost-effective improvements can result in excellent returns on the investment.

From landscapers and designers/stagers to handymen, painters, plumbers, electricians, and cleaners, there is a myriad of options for preparing your home to show in its best light without a huge upfront investment.

We will be there with you every step of the way to help with a team of vetted vendors that we will coordinate for you to handle the improvements that will ultimately maximize the sale price of what is likely your largest asset!

Are you or someone you know looking to move out of the area? We are the exclusive San Francisco Members of the Private Client Network, a nationwide group of like-minded Compass agents that collectively sold $8.4 billion in real estate last year. Reach out, and we’ll put you in touch with a top professional – all of whom we know personally!

Let us help you with your next move regardless of where it is.

HEARTWOOD

Heartwood, the Woodsy New FiDi Bar From the Treasury and Beehive Teams, Is Finally Here. The team drew inspiration from the great state of California — specifically the many trees and plants that thrive here. On the cocktail front, that means bar director Casey Carr cultivated a menu of 11 original drinks, plus a seasonal slushie and a half-dozen soda-based highballs. The Apple Propaganda, for example, begins with a gin base and then veers into fruity-herbal territory with green apple, juniper, bay leaf, and elderflower tonic. An appropriately on-theme Leaf Water starts with tequila and adds jasmine green tea, honeydew shiso cordial, citrus, and shochu. On the cooler side, there’s a passionfruit, orgeat, and lemon Saturn Slushy starring gin and a touch of falernum.

D+A Team Pick:
Not to be missed is the Leaf Water cocktail – so refreshing!