With the new quarter's statistics coming out it is becoming more and more clear that it's currently a great time to be a seller and once again a more challenging time to be a buyer. Over the past year the average days on market for single family homes, condos and TICs has gone from about 70 days all the way up to 100 days around the holidays and now has come way, way down to an average of just over one month on the market. Most properties are selling FAST! Sellers may want to prepare themselves for a quick sales cycle. And Buyers should have all their purchasing power ducks lined up in a row, ready to pounce on the right property before it's scooped up by someone else.
The "odds of sale" are also up. This is a measure of how likely it is that your property will sell in a given month. Since the first quarter of 2010 we've seen this rise citywide on average of about 20 percentage points. And in some areas – such as Pacific Heights and the Marina – your odds of sale have gone up 40 percentage points! Make hay people, make hay!
...Read this article and more in the new issue of MarketTracker, courtesy of Zephyr Real Estate. Also in this issue:
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