It’s time for another review of neighborhood real estate results. How are the Marina and Cow Hollow doing right now? Looking at both neighborhoods, the numbers, as derived from the San Francisco Multiple Listing Service, are reflected in the table below. Please note that 4th Quarter 2009 and 4th Quarter 2010 numbers actually reflect results for 9/16/09–12/15/09 and 9/16/10–12/15/10, respectively.

Properties sold quicker in 4th Quarter 2010 versus 4th Quarter 2009 in all categories, with the exception of Marina condos. The average days on the market (DOM) is the key indicator here. For single-family homes in the Marina, DOM went from 123 to 55; in Cow Hollow, DOM went from 71 to 60. For condos in the Marina, DOM went from 68 to 72; in Cow Hollow, DOM went from 55 to 36. There were a few anomalies in 4th Quarter 2009 with one single-family home in the Marina with 420 DOM and one single-family home in Cow Hollow with 228 DOM. These are unusually long timeframes for our great neighborhoods.

Mortgage rates have continued to remain at historical lows, but have gone up about 0.75 percent for a 30-year fixed mortgage over the last six weeks. There is no expectation that an increase in rates will continue. Most pundits believe that rates will come back down and may drop lower in 2011 than the historical lows seen in 2010.

Opportunities continue to abound in the Marina and Cow Hollow. There are also opportunities throughout the rest of San Francisco and the Bay Area, depending on the neighborhood and the city. The banks are expected to release more foreclosed properties over the next several months, so there will continue to be opportunities in the foreclosure market within the Marina and Cow Hollow as well.

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