“We’re building up momentum again; people are buying units,” developer Wilson Meany is quoted as saying.
The article notes that after a prolonged period of stagnation in the downtown San Francisco condo market, signs of recovery are emerging. The condo market, which faced an oversupply of units during the pandemic, is now witnessing increased activity driven by lower unit prices, reduced interest rates, and rising demand. With recent changes in interest rates and improved consumer confidence since October, the market is showing significant activity across San Francisco. Open houses are seeing higher attendance, and buyers are acting swiftly. Real estate experts note a surge in demand, attributing it to the prospect of favorable pricing and refinance rates.
Yerba Buena Island looks forward to building momentum with The Townhomes’ row houses nearing completion and the new release of The Magnolia Residences at The Bristol.