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Forest Hill Extension - October 2023 - Real Estate Market Update

Forest Hill Extension - October 2023 - Real Estate Market Update

Hi neighbors! Thanks for checking out these expanded insights into the past year of sales in our neighborhood and the broader real estate market. First, take a look at a few statistics and at all of the sold homes in our neighborhood. You probably noticed some of the For Sale signs, and maybe you've been curious. Give me a shout if you want a look inside or further information about any of these homes.

One key reality about the San Francisco real estate market these days is that inventory remains quite low. In fact, it's down 22% year-over-year. When interest rates were especially low in 2020 and 2021, many San Franciscans seized the opportunity to refinance or buy new homes. Now that those rates are higher than they've been in decades, those homeowners are powerfully incentivized to stay put. This and other factors will likely keep inventory low in 2024, and sellers will keep a lot of leverage.

Speaking of sellers, I'm glad to share that the 3BR 3BA home I listed at 444 Ulloa sold for $1,805,000. It was wonderful to see those of you who dropped by our Twilight Tour. I was really proud of the work I did with my team to refresh the home inside and out, highlighting its best qualities, as in the living room shown at the top of this page. Even in the current market, this kind of work can make a big difference. I look forward to welcoming our new neighbors and to my next listing here.  Meanwhile I think my husband is glad I’m not asking him to put out open house signs anymore – one of the perils of working so close to home!

There is now only home listed for sale in Forest Hill Extension: 320 Woodside, a 3BR 2BA home listed at $1,995,000. As the traditionally slower holiday season approaches, there is likely not much in the pipeline. In other words, the next several months could be a great time to be a seller, if you can tear yourself away from our community! Or, to think of it from the other angle, these are the times in which buyers most need skilled representation.

Interested in additional insights into the broader real estate market? See my citywide analysis here or my national analysis here. And don't hesitate to reach out if you have any questions. I love living here and it's my privilege to share with my neighbors what I know! 415.640.4664 or [email protected]

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