2 posts tagged “dom”
Within my firm, we calculate some statistics on previous year sales figures and I thought this would be interesting for my "Luxury Condo" buyers.
Here is an excerpt from 2006 figures:
SF Luxury Condos/Co-ops ($1,500,000+)
District Total Sales Avg Sales $ DOM
Pacific Heights 32 $2,705,813 40
Russian Hill 20 $2,598,150 67
Nob Hill 13 $1,972,000 49
South Beach/SOMA 27 $2,246,068 45
Overall 134 $2,232,361 47
Hopefully these actual sales numbers gave give you some guidance towards what is happening in 2007 and possibly use for a baseline in the future.
Here we are going into the 3rd week of January 2007. As a real estate agent one of the most popular questions at dinner parties is: What is happening in the market? or What is the market doing?
Seems like a straight forward question. But it all depends if you are talking about Florida vs. California or So. Cal vs. Nor. Cal, heck even Marin vs. San Francisco. Since real estate is "local" I will direct my response along those lines. What is happening in Florida really doesn't apply to California etc...
My current SF experiences are as follows:
1. Good Homes are starting to come on the market. Poor homes are still listed just look for over 45 DOM.
2. Tactfull agents are putting offer time frame pressures on good listings therefore they are selling quickly.
3. Those same properties are selling with few contingencies and short close of escrows.
4. Prediction: As the buyer pool subsides there will be a short window of available 'good' properties.
5. Suggestion: Stay in touch with the market & have your mortgages in place before writing offers. ie... move swiftly!!
But remember, be "patient" when making your decision and you will be much happier with your home.
More soon but if you need to reach me before then try emailing me at: kglidewell@pacunion.com or better yet click on my website: www.KenGlidewell.com .
