#SanFrancisco almost no distressed properties for-sale

by Rob Regan on May 18, 2013

According to this story on CalculatedRisk the “distressed sales” (REO’s and Short Sales) in the entire San Francisco Bay Area in April was 23.5%, down from 44% of all sales last April.  However, in the City of San Francisco only 5.5% of all April sales were REO’s or Short Sales, and as of today only 3.2% of all for-sale properties listed in the San Francisco MLS are REO’s or Short Sales.  So the San Francisco market was last to drop, and has been first to recover.

Also of note today is that there are just over 600 total for-sale residential units (homes, condos, lofts, coops and TIC’s) on the San Francisco MLS when we had been below 500 for a few months, and in the 500’s this past month. This is still significantly below normal San Francisco inventory, but buyers will be happy to hear of any improvement given how hard it is to find a great home, and “win” in the usual bidding war.

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