ARE CONDOS COOLING? ARE HOMES STILL HOT?
Misha Weidman is decoding for us the current real estate market in San Francisco with some figures and facts to counterbalance or finetune some rumors that roamed around recently.
Misha Weidman, real estate blogger, broker, and a regular contributor to LostinSF, gathered some facts and figures to answer the question...
Are condos cooling? Are homes still hot?
Paragon’s April newsletter created quite a stir recently when it was misquoted in a Business Insider article to suggest that San Francisco’s condo market is heading for a bust. That, in turn, prompted cries of foul play by one of San Francisco’s leading condo developers – presumably because even the suggestion of a slowdown would not be good for business. (If you have an SF Chronicle subscription, you can read all about it here.)
Sensationalist headlines make good copy but misleading news. A fair reading of the newsletter suggests that there is increasing evidence of softness in the high-end condo market, represented most clearly by the glass towers of SOMA/South Beach, etc. To my mind, what’s just as interesting is what the newsletter says about the remainder of the market. Single family homes, especially in the more affordable neighborhoods continue to do very well. What we’re really seeing is perhaps a bifurcation of the market between more expensive and less expensive product generally. You can read the full newsletterhere, but I’ve summarized the key points below.
Continue reading on RealDataSF.com
Thanks a lot Misha for this detailed analysis. To read more about the real estate market events, development, evolution, trends, secrets...
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