Mortgage California Blog

Is San Francisco Becoming a Seller’s Market?

January 24th, 2012

Since the summer season wound down in September, the number of homes on the market in San Francisco has declined to the point that sellers face far less competition.

According to an article in the San Francisco Chronicle, the amount of homes for sale has hit a 12 month low.

Redfin’s analytical data has “found that given the relatively sparse number of homes on the market, it’s becoming more of a – surprise! – seller’s market out there,” reported the Chronicle.

In a balanced housing market, there is typically 5-6 months “supply,” or homes for sale. In December San Francisco hit a low of a 1.6 month supply.

Are you surprised by this change in the housing market in the city by the bay?

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