Posted May 2, 2013
Hot Rentals! Listings Average less than Two Weeks on Market in 18 SF Neighborhoods
It comes as no surprise that finding an apartment in San Francisco is challenging; almost as challenging as fighting the urge to nudge tourists snapping photos on the top of Nob Hill over the edge. In such a competitive market, renters need to stay informed and organized and be prepared to act quickly throughout the search process. So far, we’ve shared tips to help you prepare for the hunt, ways to stay organized and act quickly throughout your search using Alerts, information about how you can stand out from the crowd and establish a personal relationship with a landlord by utilizing your Lovely Renter Card and details about why 9am-5pm is the magic window for searching in SF.
It is our hope that these tips and tactics arm you as a renter with powerful tools and actionable insights that make your apartment search stress-free so you can ultimately secure your dream home, even in a challenging market like San Francisco.
To this end, we analyzed average time on market for historical rental data of over 80,000 rental listings in San Francisco to gauge which neighborhoods are most competitive.
Our findings show the competition is indeed fierce, with renters in 18 SF neighborhoods, including the Inner Sunset, Bernal Heights and Diamond Heights, signing leases in less than two weeks.
Listings move most quickly in the Excelsior and Miraloma which both averaged 10 days on market. Glen Park and the Inner Sunset were also among some of the most competitive neighborhoods, with listings averaging 11 and 12 days on market, respectively.
On the other side of the spectrum, listings located Downtown and in Civic Center move least quickly, averaging 35 days on market. Other neighborhoods where rental inventory sticks around include the Dogpatch (33 days), Telegraph Hill (30 days) and SoMa (29 days).
Here’s a full look at how quickly you’ll have to move in neighborhoods across SF:
We love to hear your apartment search stories! How long after your apartment went on market did you sign a lease? How long total did you conduct your search? Let us know @Lovely or in the comments below.
Happy Hunting, San Francisco!