San Francisco events this weekend include Memorial Day activities at the Presidio on Monday, a Free Patriotic Music Concert in Golden Gate Park on Sunday and of course, Carnaval San Francisco on Saturday and Sunday.
On the “Homes for Sale in San Francisco” front, here’s our report for this week, 5/19/13-5/25/13:
San Francisco multi-unit properties are among the hottest commodities on the real estate market right now, according to SFCurbed. We’ve talked about how single family homes and individual condos are generally selling over the asking price with multiple offers. The same is true for multi-unit buildings.
Investors have realized that rents are up and will likely continue to rise in the near future. In fact, the Association of Bay Area Governments predicts that San Francisco’s population will soar from the current 812,000 to at least 964,000 by 2035.
Consequently, multi-unit building sales are soaring. SFCurbed includes a graph in its report that suggests that as of 5/7/13 nearly 40% of these properties are selling in 30 days or less, and on average 11.6% above the asking price.
For more information on San Francisco’s local real estate market, click here to visit our Market Reports page.