San Francisco may have an exodus but real estate prices are on the surge
There have been many reports of people fleeing the city during the pandemic but new numbers show the flip side of the exodus. In fact, San Francisco has seen something of a real estate buying frenzy lately.
Real estate agent in downtown San Francisco told Global247news how prices are soaring with record sales taking place.
Hank Davidson said: ” Prices are soaring despite the exodus of this great city, ok some want to leave but this city has a fine reputation and the opportunists are taking full advantage of listings coming up for resale, the surge as Americans feel its now the time to move to San Fran is seeing a rise in property prices when they hit the market”
” We are exceding sales targets weekly by 60% and we are struggling to keep up with the demand, as soon as one deal goes through we already have another 3 or 4 in line”
” With more properties being placed on the market due to the exodus it’s stimulating interest and presenting more oportunity to purchase the desired locations”
“At first it was presumed prices would fall but its been totally the opposite and prices are surging, its great for business at the moment” he said.
Property owner Chip Gainy told us how he listed and sold on the second day: ” I listed for resale and sold to the first viewer on the second day, no haggling on price – straight deal, these guys were from New Jersey and wished to fulfil their dream of living in Frisco, me I’m outta here due to work, heading down south to Mount Bay”
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