The median SF house sales price in 2017 was $1,420,000 (up from $1,325,000 in 2016), and for condos, it was $1,150,000 (up from $1,095,000). Looking just at the 4th quarter, median prices were $1,500,000 for houses (up from $1,350,000 in … Continue reading
The October 2017 median house sales price in San Francisco surged over $100,000 above the previous peak in May to hit a new high at $1,588,000 (sales reported by 11/5/17). A major factor was that October was a record-breaking month … Continue reading
Year-over-year, a low inventory homes market dropped even lower, while buyer demand increased to keep the pot boiling in San Francisco through the third quarter, when activity typically cools down between the spring and autumn selling seasons. Since closed sales … Continue reading
Generally speaking, late summer market dynamics (or, for that matter, during the mid-winter doldrums) are not of great significance and do not tell us much about where the market is heading. September, however, is usually the single month with the … Continue reading
July’s median sales price for single family in San Francisco followed its seasonal backing off of its May peak, dropping to $1,431,000 from May’s $1,500,838.
Single family home inventory continues to be at its lowest level, 1.6 months, since last December, and its lowest July level in a decade. This continues to be caused by fewer homes coming on the market, while sales stay fairly constant. The number of new listings on the market in 2017 is down 10% from 2016 while the number of sales is up 1.4%.
The incredibly tight supply coupled with strong demand pushed overbids up as well, to 117%, the highest since September, 2015.
Condo listings are also down year-to-date compared to 2016, by 12.7%. And, like homes, sales are up, by 4.3%, leading to a 2 months supply. And, like single family homes, condos were bid up above list price to a median overbid of 107%.
Out of town guests are arriving, the kids are hungry, the dog is restless, or you are just lying on the couch reading email and need something to motivate you to get up and out of the house. Dinner, brunch, … Continue reading
Which counties are most expensive or most affordable, have the highest overbidding and appreciation rates? Which are healthiest, most educated, have the highest incomes or worst poverty percentages? What cities have the biggest, most expensive homes? And where do Bay … Continue reading
San Francisco Real Estate Market Update – July 2017 June’s median sales price for single family in San Francisco backed off a bit from its all-time high in May, dropping from $1,502,675 to $1,465,989. At the same time, single family home inventory was at the lowest level, 1.6 months, for June in 10 years. This is largely due to the fact that the number of new listings on the market in 2017 is down 8.8% from 2016 while the number of sales is up 1.3%.
The incredibly tight supply coupled with strong demand pushed overbids up as well, to 115%, the highest since October, 2015.
Condo listings are also down from 2016, by 13.3%. And, like homes, sales are up, by 6.6%, leading to a 2.2 months supply. So, like single family homes, condos sold at a median overbid of 102.5%, off just slightly from May’s 102.7%.
The exceptionally strong San Francisco economy continues to be behind these numbers. Unemployment stands at just 3.0%, down from 2016’s 3.4%. There are more jobs filled in every category tracked by the Bureau of Labor Statistics in June, 2017 than there were in June, 2016. And while the increase in the number of new jobs is slowing, jobs are still being added.
After hitting new monthly highs in May, San Francisco houses and condos hit new quarterly peaks in Q2 2017. However, median house price appreciation, $100,000 above its previous high, has been more dramatic over the past 2 years than median … Continue reading
As Buyers Compete for an Inadequate Supply of Home Listings, San Francisco Median House Sales Price Soars to $1,500,000 in May June 2017 Report Home price appreciation, overbidding asking prices, supply and demand dynamics, the SF luxury home market & … Continue reading