What Stories Do the Data Tell?
What you’ll find here is a compilation of relevant market data as reported on San Francisco’s Multiple Listing Service, which captures the fair share of residential real estate sales in the City.
Looking at sales data is a good starting point but it can’t be the sole deciding factor in deciding a property’s real worth as each property is so special. Real estate issues are so important that judges are actually empowered to use their inherent authority as judges to force sales and to remove people from a property rather than just award money (this is called specific performance). Why do we bring this up? Well the reason why a judge can called up the sheriff to remove people from a property is because the law sees each property as being special enough and inherently unique. There’s no other substitute for X parcel.
Indeed, just as each property is important and special in its own right, each data point represents a story onto itself and collected data can only go so far and may not be applicable to a given property. So, take a look at the collected data below. And while there are some general take away points bear in mind that there are many times where we’ll say ‘comps, schmomps.’ The biggest take away from all the data below is that we need to assess each property for its own characteristics, like its past, location, footprint, neighbors and potential.