It’s that time again, time to reflect and take a look at what has been happening in our back yard.

Despite what you may hear in the news or read in the papers (and blogs of course), the San Francisco real estate market is still moving ahead–at least in Glen Park and Potrero Hill it is.

Quarter 1 sales in Glen Park

Single Family Homes
7 Single Family Homes Sold
Average Square feet: 1730
Average Sales Price: $1,025,500
Average Days on market: 40

Conclusion: Fewer single family homes sold in Glen Park in the first quarter of this year versus last year, leading me to believe that has something to do with the increased average sales price (lack of supply leads to higher prices). Most reports I have read warn about saturated markets with multiple homes for sale–doesn’t seem to be the case here.

Condos/Lofts/TIC’s
4 condo and TIC Sold (2 condo, 2 TIC’s)
Average Square feet: 1360
Average Sales Price: $708,500
Average Days on Market: 43

Conclusion: This is interesting–last year there were more that sold (9) and the average sales price was higher ($844,333.33), that goes against my logic stated above, hhmm… That said, perhaps it’s time for Glen Park condo owners to think about selling–low inventory means higher prices (well, usually).

What is imperative is that home sellers demand the most from their real estate agents. Agents that maximize exposure of a home, utilize creative marketing techniques and price the property correctly, get top dollar in today’s market.

Data for quarter 1 sales in Potrero Hill to be published soon, stay tuned….