San Francisco Bay Area Market December 2020 Update
“Winter is coming” no longer carries the same chill as it did as Jon Snow famously said it in Game of Thornes.
This winter, the real estate market is not cold at all, at least not for single family homes. Our clients took a short break during the Christmas-New Year and came right back into house hunting in new supply of homes trickle into the market. Single family homes continue to go pending after one weekend, real estate agents rush to grab a spot on the private showing schedule.
The industry is generally optimistic about the upcoming 2021 market. We expect condo price falls to stop in spring 2021 and rebound afterward. Real estate price rebound doesn’t happen overnight because prices have be built up over sale by sale. Each pending sale provides buyers and sellers where the market is moving and prices will adjust over a few months’ time.