Real Estate agents in San Francisco often vacation during our foggy summers and warn Seller's that they are better off selling in September when Buyers return to house hunt. Sure enough a lot of new listings began coming on the market on Tuesday after Labor Day, and this past Thursday and Friday the listings really shot up. City wide 110 new listings came on this past Thursday, and 73 more on Friday (single dwelling homes, TIC's, Condos, Lofts - doesn't include 2-unit buildings or more).
In the high end northern neighborhoods that I track the most (Presidio Heights, Pac Heights, Marina, Cow Hollow, Russian Hill and Telegraph Hill) 12 new listings were posted on Thursday and 14 more on Friday.
If you're considering Buying, check out www.SF-MLS-Search.com/welcome.html to find homes matching your criteria - or let me know your interests. But this is definitely a good time to buy since you will have more options. Of course if you are a Seller, it's also a good time for you since the Buyers are out in force this time of year after being pretty inactive for 2 months. So when you do list, while you'll have more competition, there is also pent up demand.
I just ran a "CMA" (Comparative Market Analysis) for a client for Condos with over 2500 SqFt (very large for San Francisco) and found that during 2007, in the northern neighborhoods, it's been a very hot and fast moving market. Average days on market is 3 weeks or less, and on average they are selling for 6% to 10% over the Listed price. That is very hot... so while there is a "bubble" debate elsewhere, the "luxury" part of the San Francisco market is going strong.
Listings are up... there are some great homes to look at... so check out my MLS site to begin your search.