So here’s a new feature you might enjoy. Every week, Zephyr Real Esate (that’s the brokerage I work for) has a weekly sales meeting (which is why it’s held every week I guess.) At these sales meetings, we announce our sales for the previous week. These are NOT properties that have closed, just listings on which a purchase agreement has been ratified and the property has gone into escrow. I’ve decided to start posting the sales data from these meetings here, for you, my loyal readers! 
We mention the address of the place, how many offers it received, and whether it sold at, over or under the asking price. The exact details of each offer are, of course, confidential… but the idea is for fellow Zephyr Agents to stay informed of the marketplace conditions… and probably to let the agents brag a little too!
This week included activity during the Labor Day Holiday…. so sales were rather slow. Typically, they pick up during the first two full weeks of September after a typically slow August.
Here’s this week’s numbers, and check back next week to see how they change.
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41% of sales received multiple offers
17% of sales sold under the asking price
29% of sales sold at the asking price
54% of sales sold over the asking price
I keep hearing about the mortgage issues and have been expecting San Francisco’s real estate market to be affected as well. But it looks, at least to the untrained eye, that the market is still doing well based on these statistics. 54% of properties selling over asking and 41% receiving multiple offers doesn’t sound like a slow market to me.
I look forward to next week’s stats.
You’re right. Things aren’t really slowing down. There are still plenty of “real” buyers out there that are seriously looking for a home. Interest rates are still low compared to some historical highs from the 1980′s and inventory in the City is still low, even for a typical week after the Labor Day Holiday, when we typically get a ton of new listings on the market.