Buyers and sellers always want to know what the future holds for local real estate, and while I don't claim to have a crystal ball with all the answers, I can share what I see in the trenches and hear within my network. So, let's delve into a few local observations, market stats, buyer trends, and real estate strategies. We'll also take an exclusive sneak peek at some upcoming inventory coming to market later this year in Cole Valley and Ashbury Heights.
Indications Of Increased Fall Inventory
Throughout my vast network of peers, many agents anticipate an improved set of real estate inventory in Fall 2023 versus Spring 2023. As buyers have become more comfortable with interest rates and values have started to level, many who have yet to purchase a home are waiting on the sidelines for the perfect home on the ideal street in their favorite neighborhood. With this demand and the anticipated increase in inventory scheduled to hit the market this fall, agents expect to see listings closer to the same quality and volume as last year.
How To Make A Smart Move
If you are thinking about buying or selling in the next year, the fall is a great opportunity to create a smart, sophisticated strategy and make a move. Here are a few tips and trends to keep in mind when navigating the late summer and autumn market.
- Buyers: Overpriced homes listed by out-of-town agents continue to hold opportunities for buyers with a local agent that knows the actual property value from neighborhood to neighborhood. Despite the low summer inventory, many homes remain on the market due to overpricing. With a savvy local agent and informed negotiations, homes that seem out of a price range may be more obtainable than they appear.
- Buyers: Off-MLS or Private Listings are a great way to land a fantastic deal on a home that may not even be on your radar. As a Compass agent with an extensive network and close connections in top San Francisco neighborhoods, I often have the inside track on off-market homes. Many listings may be available for early viewing this fall... if you know the right agent.
- Sellers: Prepare, prepare, prepare! For those highly coveted homes in desirable locations, preparing your home for sale, whether making interior/exterior updates that appeal to buyers and will enhance the resale value or simply sprucing up a few aesthetics and elegantly staging the residence - being prepared is an important part of getting the most for your home in the autumn market.
- Sellers: Price it right! The market has fluctuated tremendously since the pandemic. A careful pricing strategy is the foundation of a successful sale. Coming up with the right price requires in-depth market knowledge, ensuring the home captures buyers' attention and helps the home compete within the marketplace.
> Read the full San Francisco Market Report.
Sneak Peek > JD's Late Summer Line-Up
On-trend with what my local real estate network is experiencing, several hot San Francisco homes are already lined up for sale in the next few months. Here is a super high-level preview of two listings coming soon.
Coming Soon > Edgewood Avenue in Cole Valley
This single-family home is sure to delight. Located on one of the most sought-after cobblestone streets in San Francisco near Mount Sutro, UCSF, and Golden Gate Park, this home is being carefully prepared for the market.
Coming Soon > Downey Street, in Ashbury Heights
Located near Golden Gate Park and Cole Valley hot spots, this Ashbury Heights residence features two fully renovated units: 3+ bedrooms, 3 full bathrooms, 1 car garage parking, and dedicated outdoor space!
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