I posted the Bernal Heights real estate statistics for March today. There was a big drop off in number of sales for the 3 month trailing averages since December was such a big month, yet the distribution of sales over the last 3 months for # of bedrooms and styles of homes was largely unchanged. Victorians and 3 bedroom homes being the bigges sellers, though ironically only one 3br Victorian has sold in the last 3 months.

The number of homes for the month was up just 1 to 10 and average price was up 5.5% for the month to $868k and the number of homes on the market and in contract were up 15% so it does seem that the market is starting to pick up nicely. We have also seen several properties come onto the market in the first few days of April and expect to see a further jump in listings this week after Easter when the season really starts. Inventory is still fairly low for this time of year at 11 homes yet buyers are still acting very cautious; thus the market seems pretty balanced between buyers and sellers.

Nothing new in the multi-unit market, no new sales occurred thus the numbers for the 3 month average are down though the prices are up just under 9% to $787k. There are a few new listings of multi unit buildings and one is in contract. It seems as though multi unit buildings across SF have not seen buyers responding and I feel that the inventory is growing.

Condo and TIC prices and numbers were basically stable in March and the condo factor remained not significant.

Again, I feel that while the market in Bernal Heights and San Francisco is much smaller than in years before, its is very well balanced between buyers and Sellers. Properties priced low will still get bid up, yet over priced properties will stay on the market waiting for the perfect buyer. I feel that while extremely cautious, there are still many buyers lurking in the wings and this is causing the SF market to be extremely efficient; now, its even more difficult to find that great bargan property. For Multi-unit and investment properties I wonder if we'll see a bit of a dip in prices as inventory continues to inch up. In all rents continue to rise so sellers of multi units may continue to be increasingly patient. Single family homes, on the other hand, seem to be getting snapped up quite quickly.