Michael Ackerman, a Zephyr Real Estate agent, isn’t only talking about the recent business boom on Valencia Street, where several vacancies have been occupied by cafes and boutiques. What about the continuous uptake of the housing market in the Mission?
“We’re seeing a recovery, it’s happening,” said Ackerman.
While housing units in the double digits have been all the rage (just look at the sales at 555 Bartlett and Union-SF), Ackerman points to a more recent trend in buyer activity. Some shoppers are going old school and sweeping up 2- to 4-unit buildings. In just the last two to three months Ackerman has received multiple offers.
“People are waking up,” says Ackerman. “I’ll get two people buying a small-unit building and doing a condo conversion.”
According to CMA reports, about this time last year, 19 2-4 unit buildings had been sold; this year, that number has doubled to 42. The median sales price has held steady at around $530,000.
Realtors are sure feeling the buzz. As more and more people come out of the woodwork, Ackerman says it’s not uncommon for agents to come in at late hours of the night to lock deals.
And, if you’re looking to seal a deal this weekend, check out this map of open houses in the Mission.
P.S. If you’re keeping up with foreclosures in the area, here’s a handy map by Dataquick – luckily, San Francisco has fared the foreclosure crisis better than most, and the numbers are equally low in the Mission.