To sell, or not to sell, that is the question... that we have been hearing since the first stay-at-home order was put in place. We don't need to tell you that it's been a rollercoaster of a year, but we do need to share this: We have good news at last! Not only was San Francisco's stay-at-home order lifted, but we’re happy to report that the market is heating up (especially for single-family homes) — we might even call it hot! — and the shift hit us suddenly and with full force. In the past two weeks, we've seen wild stats: a listing receiving 150+ disclosure package requests (yes, you read that right- one hundred and fifty!) and 40(!) offers, buyers coming out in droves to see listings only hours after they're on the market (in a COVID-compliant manner, of course!) and highly competitive multi-offer situations (6,8,40...). The most telling sign? Offer dates are back and we all know offer dates are a sign of strong interest and tend to up the ante when it comes to competition and resulting sale prices.
So what's the cause? We think the abrupt shift in buyer appetite is driven by the dawn of a new year (goodbye, 2020!) combined with vaccine distribution in action and low-interest rates. Add low inventory to the mix and the turnaround makes sense. We are hopeful San Francisco's real estate market is on the rebound. As always, feel free to reach out with any questions, including whether now is a good time to sell, or not to sell.
