Adam Chinn

Market Trends
October 2, 2009 · · 4 Comments

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I have done research and compared the market last year in September 2008 to this year in September 2009.  These numbers are for single family homes.  Here are some of the results:

 

 

Daly City:

Inventory down 49%
Properties under contract up 12%
Months supply of inventory down 79%

South San Francisco:

Inventory down 60%
Properties under contract up 90%
Months supply of  inventory down 88%

San Bruno:

Inventory down 60%
Properties under contract up 9%
Months supply of inventory down 66%

Millbrae:

Inventory down 34%
Properties under contract up 67%
Months supply of inventory down 69%

In all four cities the inventory is down while properties in contract are up.  Meaning supply is low and demand is high.  Competition for homes in these cities is high, but it is still a great time to buy.  This also means that home owners considering selling their home may want to contact a Realtor to see what their home is worth and think about weather it makes sense for them to sell or move at this time.  The market has definitely changed for the better and this is a great sign for things to come not only for the housing market, but for our economy as a whole.

This Real Estate Blog is by Adam Chinn