This increase follows months of drastic declines as a result of the coronavirus pandemic.
"In San Francisco, single-family homes were moving very rapidly and condominiums, particularly right out of the gate in April and May, were really badly trailing," Garrett Frakes, managing partner of Polaris Pacific, told Business Insider. "There was a lot of concern, if you will, over what the state of condominiums was going to be moving forward."
"What we are beginning to see right now is a bit more acceptance, a return to the city," Frakes said. "We're actually seeing more people on the street in general." The length of the rebound phase, Frakes explained, is contingent on the reopening of the downtown markets. But until then, healthy purchase opportunities will continue to arise.There have been good, healthy price reductions in the condominium market, Frakes explained. These reductions have helped get it moving.
"This city doesn't go on sale very often," he continued. "And when it does, the lesson learned from previous sales is that you need to jump into the market, even though it's a little bit scary." What we are starting to see right now in San Francisco, is the 2020 addition of those bandits. "All of a sudden, people are looking around going, 'Jeez, I don't want to miss this opportunity to get into a market that's typically very difficult to get into.'"
They can not even keep a Walgreens open. The homelessness population is a disaster I know college students that are fleeing the city because of crime .
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