The REAL days on market : Hayes Valley Condos
December 2, 2008We looked at 6 months history (6/1/08 thru 12/1/08) for sales of Hayes Valley condos to see what the REAL days on market figures were. Using the methodology described here, here’s what we found:
- A total of 12 condos have sold in Hayes Valley in the past 6 months (resales only — this does not include new developments)
- The average time it took a condo to go into contract was 31 days
- The average time it took a condo to sell was 43 days
- The high was 83 days to a ratified contract, 111 days to SOLD
- The low was 5 days to a ratified contract, 8 days to a SOLD
- What did MLS say? Average days on market : 43 days.
We did not run into any situations for this particular query where MLS had left out previous marketing times (such as expired or withdrawn listings) in their numbers.
Hayes Valley condo liquidity : Frozen like cubes or flowing like water??
The Verdict: Hayes Valley condo resales have demonstrated good liquidity over the last 6 months. When average marketing times creep above 90 days for an area, this can signal problems for existing owners (but opportunities for buyers).
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