Are you thinking of selling a home in San Francisco?
The real estate market in San Francisco is almost always in the favor of the seller. Depending on price point, neighborhood, and property type, some properties are selling faster than last year and with multiple offers.
In this article, we provide helpful insights to help you navigate the San Francisco real estate market and successfully sell your home.
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1. Understanding the San Francisco Market
If you’re selling a home in the San Francisco Bay Area or anywhere in the Golden City, the first thing you must do is familiarize yourself with its real estate market.
San Francisco is a city in California that consists of 105 neighborhoods. There are around 1,840 homes for sale, with prices ranging from $350,000 to $38 million.
Homes in San Francisco, CA sell after 41 days on the market, on average. The median listing home price in San Francisco is $1.2 million, and the median sold home price is $1.1 million. The median listing home price per square foot is $962.
The most expensive neighborhood in San Francisco is Pacific Heights, with a median listing home price of $2.5 million. On the other hand, Western South of Market is the most affordable neighborhood, with a median listing home price of $739,000.
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2. Importance of Timing Your Sale
The next thing a home seller in San Francisco should know is timing the sale. So, when is it a good time to sell a house in California?
The best time to sell in the Golden City’s competitive, quirky micro-market is in December. This is the month when prospective buyers start their spring real estate shopping and by January, they are primed and ready to spend their end-of-year bonuses on buying a new home.
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3. Setting the Right Price
Pricing is one of the most important steps in preparing your San Francisco home for sale. A buyer’s first impression of your property is influenced by how its value is perceived in the current market climate.
It is crucial to know how to price your home high enough so you can get the best price for your property while pricing low enough to attract qualified buyers.
These are factors to consider when pricing a San Francisco home:
- Current market conditions
- Recent sales in your neighborhood
- Recent sales of similar properties in nearby neighborhoods
- Other properties currently on the market
- The size, finishes, and condition of your home
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4. Enhancing Curb Appeal
When selling your San Francisco property, improving the exterior of your home is essential in getting prospective buyers to have a great first impression.
Here are a few things you can do to enhance your home’s curb appeal:
- Repaint your front door
- Upgrade exterior lighting on your property
- De-grime your driveway
- Add fresh potted plants to your porch or front entry
- Clean your windows
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5. Staging Your Home
Home staging improves a property’s appeal by making it look welcoming and highlighting its strengths. A properly staged San Francisco home will breathe life, warmth, and comfort and allow potential buyers to envision themselves living in it.
Below are budget-friendly things you can do to stage your home:
- Get rid of clutter
- Depersonalize every room
- Show off your storage
- Spruce up your bathroom
- Make sure all rooms are well-lit
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6. Marketing Your Property
Working with a real estate agent can help you create a successful marketing plan for selling your property.
A realtor has access to various online tools that will allow you to reach more potential buyers online, including an optimized website, social media channels, and email marketing.
To reach the largest audience, your realtor will list your San Francisco home on the Multiple Listing Service (MLS), a local database real estate brokers use to share data and information about properties for sale.
And there are traditional ways to market your home, such as placing a signage on your property, hosting an open house, passing on brochures, promoting on print ads, and word-of-mouth among your family and friends.
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7. Building a Strong Online Presence
Optimizing your online home listing is one of the many things your real estate agent can do for you. Other things to build your online presence to increase your chances of selling your home in San Francisco are:
- Social media ads
- Real estate portals
- Real estate SEO
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8. Working With a Real Estate Agent
When looking for a realtor to help you sell your home, choose someone with experience in the following:
- Selling your property type
- Selling in your neighborhood
- Selling in your price point
- An above-average sale-to-list price ratio
- A history of going above and beyond for their clients
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9. Navigating Offers and Negotiations
Learning effective negotiating strategies can help you get the best price when selling your San Francisco home.
When a buyer makes an initial offer that is lower than your list price, resist the urge to drop your price, thinking that doing so might result in a sale. Instead, counter with your listed purchase price.
Countering at your list price shows the buyer that you know what your property is worth and you intend to get the money you deserve.
You can also opt to reject the buyer’s offer without giving a counteroffer and simply ask them to submit a new offer. This sends a signal that you believe your property is worth what you’re asking for it and the buyer may make a higher offer if they really want your property.
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10. Finalizing the Sale
Once you have accepted an offer from a buyer, the final step is to close the sale. This involves a final property inspection, final negotiations, providing the buyer with the necessary paperwork, and taking your property off the market.
Note: This image may include elements generated by artificial intelligence (AI).
Conclusion
Selling your home in San Francisco successfully entails proper preparation and professional guidance from an experienced real estate agent.
If you’re decided to place your home on the market, we’re here to help you get the best deal with your upcoming real estate sale.
Contact us today at (650) 629-9898 or teamtapper@gmail.com to schedule an appointment.
Frequently Asked Questions
What are the current market trends in San Francisco?
San Francisco has around 1,840 homes for sale, with prices ranging from $350,000 to $38 million.
How do I set the right price for my home?
When setting the price for your home, you will need to consider current market conditions, recent sales in your neighborhood, sales of similar properties in nearby neighborhoods, other properties currently on the market, and the size, finishes, and condition of your home.
What should I do to enhance my home’s curb appeal?
A few things you can do to enhance your home’s curb appeal include repainting your front door, upgrading exterior lighting on your property, de-griming your driveway, adding fresh potted plants to your porch or front entry, and cleaning your windows.
Is it necessary to stage my home?
Yes, home staging improves a property’s appeal by making it look welcoming and highlighting its strengths.
