1st Half of 2017? Sales Data Holds Steady in SF Real Estate From 2016 to Date — Summer Selling Pattern Takes Hold 

It’s been six months since 2017 started and real estate has held pretty steady with modest gains to prices and similar numbers of properties being bought and sold. We’ve had a banner year already and have lots of listings in the works in addition to the trio we have open this weekend both on Saturday and Sunday. Also hopeful is that we also saw a slightly increased number of new listings pop up this week as opposed to the past few — perhaps an acknowledgement that people are back from the 4th of July holiday? 

Here are a few trends we’re seeing this summer and in the longer term.

• Mortgage rates remain low, despite Ms. Yellen’s increase. While they’ve gone up this year and are likely to increase even more later this year, mortgage rates are still holding steady. Folks should really act soon to capture this market anomaly
• Smaller-sized residential projects will be more popular and feasible as we’re already starting to see (see our Stories of the Week section below to see why) 
• The most recent sales have showed that we are indeed in the summer pattern. Like the fog, things have cooled down from our May highs with properties taking that much longer to sell with fewer offers. This cool pattern will, like it does every year, give way in September after Burning Man (yes, it’s Burning Man now, not Labor Day) and we should go back to more activity and higher prices.
• It looks like prices will remain strong as buyers are confident in San Francisco real estate. After all, it is not only a rare place on earth but remember that all the people who bought houses over the past years did so with cash or have such low mortgage interest rates that it doesn’t make sense to sell much less give up tax benefits and extra equity earned already. 

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