Home Sales in SF Surge 38 Percent in March

All but one of the 13 Western cities tracked in the report saw annual sales increases last month. Boise and Seattle both posted gains of more than 50 percent, according to the report. Los Angeles was the only major city that saw a decline in sales, off 7 percent.

San Francisco saw the sharpest gain in median price, up nearly 38 percent to $489,000. The city also had the lowest average number of days on the market, which dropped by about a quarter from last year to 49 days.

Sales in San Francisco climbed nearly 9 percent from a year ago.

“Buyer confidence has increased dramatically from last year,” said Sue Schultes, an agent with Paragon Real Estate Group in San Francisco. “When things are uncertain, people have a difficult time making a decision. We’re now noticing many houses selling over list prices with multiple offers and a lot more movement in the luxury market.”

Full article here

[Home sales in the West Surge 17 percent in March-Mercury News]