the real estate
market update
Eileen Bermingham
REALTOR®
415.823.4656
ebermingham@zephyrsf.com
http://www.insidesfre.com
DRE# 01352627
market update
Economists always seem to make their way back to “supply and demand," and for good reason. These are the fundamental factors at play in any market place. Currently, buyers well outnumber sellers. The result is a pool of buyers who are frustrated when they are forced into competition with one another, experiencing rising prices and high pressure to deliver aggressive offers. Sellers, on the other hand, are hesitating to sell, believing that the market will improve and prices will rise further. This has resulted in a decreasing inventory of properties for sale while, at the same time, demand is increasing.

Take a look at these quarter-end results illustrating the number of properties that were for sale versus the number actually sold. This tightening of supply can’t go on forever. Markets have a habit of turning quickly when these kinds of pressures are in play and we can all bear witness as the pendulum reaches its limit and the balance of supply and demand moves, once again, toward equilibrium.
san francisco
market stats
$13,000,000 Highest Sales Price
$175,000 Lowest Sales Price
$780,000 Median Sales Price
52 Average Days on Market
711 Number of Units Sold
grants headed to sf neighborhoods
San Francisco’s neighborhoods are about to get even more beautiful, as $832,000 in grants are awarded to 28 deserving recipients. The Community Challenge Grant Program (CCG) provides matching grants to projects that get neighbors and local businesses working together to create green spaces, public art and other amenities that contribute to the city’s unique character.

“Community Challenge Grants allow the City to partner with our diverse communities to make immediate improvements to our public spaces,” Mayor Ed Lee said while announcing the awards. The grants range from $11,840 up to $65,000, representing projects as varied as a graffiti abatement program in Bernal Heights to a new street park and gathering place on Burrows Street in Portola.

The awards are funded by City businesses that voluntarily designate one percent of the business tax they already pay. Click here to see a complete list of award recipients.
changes at ocean beach
Some improvements recommended by the San Francisco Planning + Urban Research Association in their 40-year Ocean Beach Master Plan are set to begin right away (or this winter at least, which is “right away” in the context of a 40-year plan).

Along with planned repaving along the Great Highway, landscaped medians will be installed where there is now just paint, providing shorter crossings and pedestrian refuges to make walking to the beach a bit safer. Rugged native plants are being selected for the landscaping, bringing some aesthetic refinement to that stretch of roadway.

SPUR's plan recommends $350 million in improvements and actions over a 40-year period. You can check out the entire plan online. Stay tuned to see which suggestions stick!
tip agent's corner
Got any ideas for improving city living? Of course you do! Click over to improvesf.com, a new site where citizens and local government connect to solve problems.
The California Association of REALTORS® reports that historically low interest rates coupled with high inventory are luring more buyers to the market; nearly half the properties for sale in California receive multiple offers. Here in San Francisco, we're experiencing lower inventory and higher demand with a new influx of tech industry buyers. Whether buying or selling, you need a tough negotiator on your side. Call today to discuss the opportunities.
Eileen Bermingham • 415.823.4656 • ebermingham@zephyrsf.com • DRE# 01352627