A couple of stats from a survey of Paragon Real Estate Group agents with respect to their last 12 months of activity in San Francisco:
60 percent of the sellers represented by Paragon are relocating outside of San Francisco. The main reasons for their moves: 1. schools (and other family-raising reasons), 2. affordability (the ability to buy more home for the money elsewhere), and 3. job-related (relocation, commute).
50 percent of the buyers Paragon agents have represented are first-time buyers; 47 percent of their buyers are employed in high-tech; and the average age of their buyers is mid-thirty.
Less than 3% of Paragon’s buyers have been from outside the U.S. (i.e., foreign money).
And while 26 percent of their buyers’ offers were presented as “all cash,” many of those offers were written that way “solely for strategic reasons to get their offers accepted” and “many of these buyers end up getting loans either before or immediately after close of escrow.”
Unrelated to Paragon’s survey, we’ve heard from other sources that the number of true all-cash offers in San Francisco has been noticeably drying up as of late.