If you are trying to buy without getting steamrolled, the recent numbers tell me where caution matters most.
Trying to decide if you should jump into the market now or wait for calmer waters? My rule of thumb is simple in San Francisco, CA right now, waiting for "easy" looks like waiting for a unicorn with parking. Over the previous 30 days, houses sold in about 12 to 13 days, and that quick pace tells me hesitation is expensive when the right place appears. I am writing this for the person who wants to buy smart, not just fast, because there is a big difference between being prepared and being volunteered as comic relief in someone else's bidding war.
Get your price ceiling in writing before you tour seriously, and leave room above list if you are chasing a house. Shift part of your search toward condos if you want more breathing room, because recent condo pricing ranged from $1,020,000 to $1,225,000 and offers there ran about 97.7% to 104.3% of asking instead of the house-level madness. When a home fits, move fast. When it does not, walk away faster. Pride is expensive, and overpaying out of panic is even worse.
