San Francisco, CA (PRWEB) April 23, 2015
Tim J. Gullicksen of Zephyr Realty says the big news for the first quarter of 2015 is that sales volumes have dropped precipitously compared to the fourth quarter of 2014. Also, prices edged up even higher.
According to the San Francisco Association of Realtors, there were 41 percent fewer single-family home and 28 percent fewer condo sales in the first quarter of this year. Of course, the first quarter of any year is typically slower, but given the heated nature of the market right now, more volume was expected. Now let's compare this quarter with the first quarter of 2015.
The average price per square foot for San Francisco was $931, an increase of 17.7 percent compared to the same period last year, says the San Francisco Association of Realtors. The median sales price for homes in San Francisco, CA for Dec. 14 to March 15 was $1,040,000 based on 706 home sales. Compared to the same period one year ago, the median home sales price increased 15.5 percent, or $139,500, as the number of home sales decreased.
What does this likely mean for the market for the rest of 2015? Volatility around the world has kept markets erratic and mortgage interest rates low. These low rates continuing with low levels of inventory would seem to indicate prices continuing to rise this year. For prospective sellers, now might be a great time to put properties on the market. There are a lot of buyers out there looking for whatever it is you have to sell. For buyers, purchasing earlier this year rather than later is likely to save you some money and gain you additional equity.
About the company:
Tim Gullicksen has been a top-producing real estate agent since he first entered into the business and takes great pride in managing every aspect of each transaction. After graduating from high school in the South Bay, Tim earned a bachelor’s degree in political science and history from the University of California-Berkeley. He went on to earn his teaching credentials from JFK University in Orinda, and taught kindergarten in the San Jose Unified School District. He brings an educational approach to real estate developed from that background and sees himself as a facilitator of property transactions. For more information, visit his website at http://www.timgullicksensf.com/.