Home Buying in Mission Bay>Question Details

Shillafm, Home Buyer in Mission Bay, San Fra...

What month is best to sell in San Francisco?

Asked by Shillafm, Mission Bay, San Francisco, CA Fri Jul 10, 2009

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8
It's probably not right now. See how Q1 2010 shapes up, and go from there.

Paul Hwang
Your SoMa / South Beach Super Broker
Skybox Realty
415.216.8746
Web Reference: http://www.paulhwang.com
0 votes Thank Flag Link Tue Jan 5, 2010
Hi--I think one aspect of "the best time to sell" is gauging the psychology of buyers and sellers. Between now & the end of the year, buyers who have been looking for a while may swoop in & get themselves some deals. Sellers may be motivated to wrap things up by the end of the year for tax purposes.

Buyers tend to be scarcer in the early months of a given year, but once the holiday bills are paid off & Spring hits, buyers usually return to the market. This behavior continues through the summer and into Fall.

Homes tend to show better in the Spring & Fall, but really, in the more central & desirable parts of San Francisco, there is not a particularly optimum time. Why people buy and sell property at a given time has more to do with their individual circumstances than a season or month.
Web Reference: http://insidesfre.com
0 votes Thank Flag Link Thu Nov 12, 2009
"Historically, our seasonal high months are May and June."
I'll echo this by saying that even in a down market, the Case-Shiller Home Price Index shows a peak in July or August. Bear in mind, this index averages the current month with the previous two, so it jibes nicely with Jason's comment.
0 votes Thank Flag Link Thu Nov 12, 2009
Great answers previous to mine... this year is different for sure. What I think all of my colleagues would agree with is that we'd really need to know 'what' you are thinking of selling and 'where' it's located to accurately advise you. Care to share condo or loft or TIC or home? As well as # of beds/baths and cross streets?

The Spring traditionally has the highest prices of the year.... if highest price is your goal, in general you missed your window. Then again, if you are in Mission Bay I'd agree with Michael - the time is yesterday, today, now!!! There is tremendous price pressure in and around the Mission Bay area, and you probably should either sell right away because the "window" keeps getting worse, or hang onto your place for at least several years until the market stablizes again.

I'm also happy to discuss your situation with no obligation. You can also try my home valuation site http://www.Evaluate-My-Home.com for a free value estimate in today's market
0 votes Thank Flag Link Fri Jul 10, 2009
Shillafm,

Simple answer - NOW!

If you have a single family home - YESTERDAY!

If you have a condominium or a loft YESTERDAY may have also been a good time.

I've tracked inventory, sales and season for many many years. I noted seasonal variations and had my traditional favorite listing times, BUT this year as with last year is DIFFERENT and all bets are off. August used to be a bad month, so was November and December. Last year many of my properties in escrow closed in December which meant it defied the 'bad' season as we went into contract on those from mid-October through December. In a market like this one, years of experience in good and bad markets is more important than ever. Ask whomever you decide to allow to represent you how many markets they've experienced and how many clients have they successfully represented.

Right now - BUYERS are out there looking for good value, so in short - WELL PRICED properties are SELLING.

Everyone is extremely sensitive to changes in interest rates which seem to be creeping upwards these days. The market for well priced single family homes has gone into hyperdrive again, but only in certain price bands and neighborhoods. Last month we wrote offers for several clients in which there faced off with other buyers who wrote on the same properties. This week some very dear clients closed on a gorgeouse home in Bernal Heights where we were NOT the highest offer. It had more to do with representation and presentation than price. Ask me offline and I may share that story with you.

The appetite for condos and lofts also has appeared to pick up. On the horizon we will soon see a few changes many are not even aware. It will affect our marketplace several months from now. I'm currently working with a few clients who understand the time is NOW. If you'd like to talk to a market maker - give me a call, I'd be happy to spend a few minutes without obligation about any concerns you may have.

Below are a few of the properties my team and I have brought onto the market this week:

http://www.238Hartford.com - 1+ Bedroom 1 Bath Castro District Condominium - Short Sale
http://www.GarfieldSquareHomes.com - 7 TIC Units - 2 in escrow - and another went into contract today.

All my best,

Mike Ackerman
Zephyr Real Estate - Noe Valley Office Top Producer 2008
ABZ@ZephyrRealEstate.com
415-695-2715
0 votes Thank Flag Link Fri Jul 10, 2009
In 2007 it was April with 558 units (condo and SFH). In May of that year is 545 and June it was 497. In 2008 it was July with 444. May had 423 sales and June had 412. Spring and moving into summer aiways have been the season.

Those numbers are closed transactions so it is typically assumed that they went into escrow 30 days previously.

So far this year our sales are growing each month and inventory is shrinking. In February 2009, for instance condos were at a 15 month supply and single family homes were at a 7 month supply. As of the first of July condos are now at 6 months and SFHs are at 3 months.

By the way on February 1, 2009 there were a little over 400 escrows open. On July 1, 2009 there were close to 900 open escrows. Sales are continuing ot grow and inventory is coming down.. Now is a good time to sell, but be sure to price correctly.

If you have questions about this data just click on my link and ask.
0 votes Thank Flag Link Fri Jul 10, 2009
Jed Lane, Real Estate Pro in San Francisco, CA
MVP'08
Contact
Hello again Shillafm,

I agree with what Jason has written.

I notice you are in Mission Bay? If you are thinking of selling in Mission Bay, I would have to say this market is unpredictable when it comes to resale. The new construction/development projects have been negotiating some very sweet deals and as you can imagine that has cut into the sale prices of resale units. Of course it depends on your home and expectations.

Good luck!

Lorraine Meier
Zephyr Real Estate-SOMA
415.596.9362
cityrealtorsd@gmail.com
0 votes Thank Flag Link Fri Jul 10, 2009
Hi Shillafm,

Historically, our seasonal high months are May and June. However, this year has continued to improve through July as well. Generally speaking, though, total volume increases from March to June's peak. Things cool off in August, but generally swing back up a bit in September and October. As you probably know, market activity slows dramatically through the holidays.

Hope that helps!

Jason Chapin
McGuire Urban Bay
415-420-1143
jchapin@mcguire.com
0 votes Thank Flag Link Fri Jul 10, 2009
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