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With very illiquid assets, like San Francisco real estate, it's often not so much how high or low prices are but whether the market even exists.
by smitherfield 11y ago
With very illiquid assets, like San Francisco real estate, it's often not so much how high or low prices are but whether the market even exists.
- Domenic_S 11y agoIndeed, but supply & demand says that less inventory in an otherwise normally-operating market should see prices increase. Yet, price-to-list is < 100%. It's hard to know what that means. Are sellers pricing the low-inventory situation into their list price and then only getting a fraction of that markup? Does the inventory suck, meaning lenders won't even finance it, thus reducing the price? Are all-cash offers at the $1mm+ price point so tempting that sellers are giving up 8%? Are buyers just giving up?