In times like these, we are committed—now more than ever—to help everyone find their place in the world. When you are ready, we will support you with our talented teams, and innovative technology to deliver the best experience to buy or sell your home. Here's what you should know.
Meet Our Leaders
In the last 3 months—industry leaders from Amazon, Tesla, and Google—who understand the remarkable value Compass provides, joined in our mission to build the primary end-to-end platform for real estate.
Expanding Our Tech
In response to the global crisis, and stay-at-home orders in many states—we have been building the most advanced programs and dynamic tools to streamline our services for you, without leaving the house.
Virtual Agent Services
Virtual Agent Services is an exclusive suite of marketing and transactional services available to all Compass clients. Includes, virtual open houses, interactive video showings, virtual staging, digital ad insights, and so much more.
Compass Lens is a cutting-edge technology that uses Artificial Intelligence to give Compass clients the power to visualize how Compass Concierge can transform a listing and improve the sale price.
Marketing Center is a digital platform that allows us to create everything we need to market your listing using high-quality designs. We just launched the Video Generator feature to create a custom listing video in minutes. Stay tuned for more.
San Francisco Real Estate Market Begins to Slowly Recover
May 2020 Crisis Update
Market activity begins to tick up after severe shelter-in-place plunge. No decline in median home prices. Interest rates hit new low.
Shelter-in-place caused steep drops in activity across the board in what is typically the busiest selling season of the year. However, though still far below normal levels, activity has been picking up since bottoming out in late March/early April, and will presumably continue to do so with the easing of both shelter-in-place and property-showing rules.
So far, home prices have seen no declines, but a fair proportion of the sales behind April median sales prices still reflects offers accepted prior to shelter in place. Interest rates hit a new historic low in the last week of April.
Week by Week Supply and Demand Trends
The only way to clearly perceive the recent changes in the market - sudden plunge and the beginning of recovery - is by looking at WEEKLY trends in buyer and seller activity. These are illustrated in this first chart below.
Generally speaking, the first months of 2020 have been characterized by year-over-year increases in median home sales prices across the Bay Area.
Year-over-Year Changes in Luxury Home Markets
The next series of charts reflects the dramatic changes in market dynamics by MONTH as compared to spring 2019.
Mortgage Interest Rates
At the end of April mortgage interest rates hit a new historic low.
We are not going to review the economic news already extensively covered in the media, except for this stark illustration of the unparalleled rise in unemployment. How quickly this horrifying trend can be reversed will probably be the single largest factor behind an economic recovery.
Wishing you a wonderful weekend!
All the best,