San Francisco ranks third in the nation's strongest sellers markets, with the lowest share of homes cutting prices since early 2022. Tight inventory and people moving back to offices are pushing demand up, giving sellers more power than a year ago.
In a major shift from post-pandemic years, San Francisco is now one of the hottest sellers markets in the entire country. According to Zillow's Market Heat Index, which measures things like the percentage of available homes cutting their list price and the balance of demand against available supply, San Francisco is the number 3 strongest sellers market in the country behind Rochester, New York and San Jose. This makes sense based on the data because the percentage of homes cutting their list price is the lowest we've seen since the absolute peak of the COVID market in early 2022. And we have very limited inventory at a time and the population is growing amid a return to office. We'll see if these trends continue, but at least for now, people who are selling their place today are in a way better position than they were at the same time a year ago. Let me know what you think in the comments and follow me for more Bay Area real estate. Bye.
