When I reflect back on the real estate market in the Spring, I’m reminded how terrible it really was. No credit, depressed prices and neither buyers nor sellers were making any moves.

Spring forward, and now we’re back to pre-2008 levels of activity. There are multiple offers on some of the well-priced entry properties.

At a recent open house in the Mission Bay, over 40 buyers came through. By the end of the week, four offers were presented, one of which was an all-cash offer. Savvy investors are paying cash in order to win the bid process, and then perhaps refinancing after the close.

Even at pricier points, homes priced correctly are going into contract within a week. Recently 1155 Vallejo St, a single family home at the $3 million price point, went into contract over the weekend, even before there was a broker’s tour. So no longer is it a buyer’s market – it is both a buyers’ and sellers’ market.

1155 Vallejo St