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　　The Bay Area's luxury housing market, which has been soaring for the past year or more, is finally showing some signs of leveling off as summer rolls on.爱游戏

　　While there are no indications that the high-end market is reversing course, even a move back to a more normal balanced market could provide welcome relief for frustrated buyers in this very competitive market place.

　　San Francisco's luxury home prices were flat in the second quarter of 2016 while a continuing shortage of homes listed for sale led to a sales decline compared to a year ago, according to a recent market report by Coldwell Banker Residential Brokerage. The report is based on Multiple Listing Service data of all homes that sold for more than $2 million during the last quarter in San Francisco.

　　The median sale price in the city was $2.8 million, up from $2.7 million in the first quarter of this year but exactly the same as a year ago. Sales of luxury homes fell once again in the latest quarter compared to the same period last year. There were 211 transactions in the second quarter of 2016, down 14.9 percent from the 248 sales a year ago.

　　Other recent Coldwell Banker Residential Brokerage luxury market reports showed similar stories elsewhere in the Bay Area: lovegame sports

East Bayluxury sales and prices (over $1.5 million) were both relatively flat in June from year-ago levels. A total of 182 luxury homes changed hands, down 1.6 percent from June 2015. The median sale price was up 1.6 percent from a year ago, reaching $1,778,000. June’s median sale price was down fractionally from May, when it stood at $1.78 million.

Silicon Valley’s luxury housing market (over $2 million) saw home sales off slightly and the median sale price down fractionally compared to the same month a year ago. A total of 158 luxury properties changed hands in June, down 4.8 percent from June 2015. June’s sales total was also off from May, when it stood at 173 units. The median sale price dipped less than 1 percent from the same month last year to $2,597,500.

Marin Countywas the exception in June. There were 92 luxury sales (over $1.5 million), up 15 percent from the 80 transactions in June 2015. Meanwhile, the median sale price dipped to $1,957,500, a 6.6 percent decline from a year ago. Last month’s median price was also down from May’s $2.3 million price.

　　Reports show a little more inventory coming on the market and homes taking a while longer to sell, especially if they aren’t in move-in condition, in the best locations, or priced appropriately. Buyers are becoming more selective, and properties that sell with a large number of multiple offers is the exception instead of the rule these days.

　　But make no mistake: ayx game The Bay Area’s luxury housing market ­– like the overall market – remains quite strong and healthy. And in fact, it is still a seller’s market in many communities. But more recently the pendulum has started swinging back towards a more balanced market between buyers and sellers.

　　We’ll see if this trends continues in the weeks and months ahead. But if it does, it’s not bad news at all. A more balanced housing market would be much healthier and sustainable for the market over the long run. And that can only be good for buyers and sellers.

　　Below is a market-by-market report :

　　San Francisco – Traffic and interest remain high, but the number of offers are quite reduced, our Lombard office manager reports. Single family homes under $2m are still closing over asking, usually with 2-5 offers. Over half of condo sales now are at or under asking. Already there’s a sense that there will be a listing surge post-Labor Day. SanFrancisco continues its summer doldrums with fewer listings and sales. Still, savvy buyers are still making deals happen. For instance, a couple of properties ratified offers with buyers after they’d been temporarily withdrawn from the market (the happy seller didn’t have to re-market, and the happy buyer didn’t have to compete). The rebalancing of the market is resulting in some properties that sit, and others needing to make price corrections. Even so, there remains those exceptional properties that are well-priced and well-presented that continue to receive multiple offers.

　　SF Peninsula– After a sluggish beginning sales have increased. Menlo Park area open house activity is spotty. The well located and well-priced homes are still very active. Both stagers and inspectors are backed up with jobs for listings in September. The Palo Altoarea market is shifting, It could be seasonal and elections could play into it.The number of offers are down. According to our Redwood City manager, this is a very slow time for the market. Many people, agents and clients are on vacation. Not as much activity at open houses with the exception of one of our listings in Daily City that had at least 100+ through on the weekend. There still is a lack of inventory. In San Mateo there has been a spike over the past two weeks in the luxury market. Woodside and Portola Valley are very quiet. Open houses are slow and clients and agents still out of town.

　　Silicon Valley– Open houses are more sparsely attended than before. Contingent offers even have a chance. The market has definitely shifted in favor of the buyers. In Los Altos manager, there are signs of seasonal adjustments with an increase in inventory as the summer vacation season comes to a close and school reopens. We are anticipating a spike in new inventory coming on the market and will have a direct impact on those homes that have been “lingering” on the market. We expect to see additional price reductions on homes with higher than average DOMs. The market is still as robust as it was and there is strong activity on properties in move in condition and priced to sell, resulting in multiple offers that typically achieve a sale price that is over asking sale. We expect that any increase of home listings will be absorbed quickly as the local market is still strong. The luxury market over $3.5 million is steady but flat. There continues to be high demand for properties in Los Gatos under $2million. The market over $2 million is softening and agents are even starting to see some price reductions in the over $2 million market.

　　In Almaden it’s more of the same with inventory increasing and less units being sold compared to the same time last year. We’re still seeing multiple offers but not as many offers per listing and prices coming in closer to list price than way over list. Available inventory for Santa Clara County is at the same number as September of 2014. In San Jose the market is stabilizing as both sales and new listings are on a little slower pace. Sellers must be cautious when pricing homes and not price over market. Days on market is starting to creep up as some sellers priced their homes too high and buyers are not interested. We are seeing more homes withdrawing from the market. With interest rates still at record lows, buyers are taking advantage of the homes priced right. Willow Glen active listing inventory has been on the rise the last two weeks and is near 100 active units,another high water mark for the year. The market has picked up some steam with busy open house traffic with lots of new inventory for buyers to look through. Homes well priced are selling quickly typically within the first week on being on the market. After the first week of open house offers are being reviewed with multiple offers on most homes.

　　Market-by-market report: