This week in San Francisco
The median list price in SAN FRANCISCO, CA this week is $1,099,000. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Price
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
So what does this mean? The real estate market optimism has improved 8 points since Mid-October, and it has moved significantly back into the seller’s market from the edge of the buyer’s market.
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