The real estate market in San Francisco continued its wild ride into the new year.  Below is a snapshot of just how crazy the market was for homeowners and investors:

All Properties:

• Inventory of all properties for sale as of January 11, 2021: 964 (a significant drop from 1644 active just one month ago, but more than double the 456 properties active in January 2020)
• Year-Over Year Increase:  55%
• Month-Over Month Increase: 10%

Single Family Homes:

• Ave. Sales Price:  $2,090,948 (Nov-$2,118,659, Dec 2019-$1,952,879)
• Average Days on Market:  29
• Average Listing Price:  $2,043,645
• Average Selling Price Per/SqFt:  $1,003.32
• Asking vs Sold Prices:  82 below; 15 same; 170 above.

By the end of the year there was less than 1.5 months of inventory left, leaving 2021 to start as a definite seller’s market.

If you are thinking of getting into the market in San Francisco or anywhere else in California, but want a leg up with stronger offer or faster close or just get turned down elsewhere, Sun Pacific Mortgage can arrange for a private money loan.  We are a family owned and operated mortgage business that has been there to help thousands of borrowers for over 3 decades.  Give us a call at 707-523-2099.