The Curious Case of The Downtown Real Estate Market

Okay people, I've got some numbers for you this week. They don't have anything to do with reverse aging. My apologies about the headline.

I was conducting searches on the MLS (Multiple Listing Service) and thought I'd run a little test since the market has seemed much more active in the past few weeks both for me and my colleagues. I searched Mission Bay, Potrero, SOMA and South Beach only. The following numbers track activity from March 1, 2009 through April 6, 200


Closed Sales: 21

Pending/contingent Sales: 48

Remaining Available Listings: 176


During this 37 day period, 69 property owners found themselves with buyers. Not all of these transactions have consummated but that's still healthy activity. What these numbers don't include are most new construction transactions. I would estimate that would add another 50 sales. Those deals would be spread among The Infinity, One Rincon Hill, BLU, and Arterra.

Given these numbers, reports about the death of the Downtown San Francisco real estate market are exaggerated. Prices are down. People are out there buying condominiums.

Spring fever? Crazy contrarians? Pent-up demand? Have we hit the bottom?

I'm just happy to be getting my clients the best possible terms on Downtown condominiums. Let me help you, your friends and colleagues do the same.