San Francisco Real Estate : San Francisco Real Estate market update summer 2015

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San Francisco Real Estate market update summer 2015

San Francisco SFH Market Update
Summer Sales Data
   
$31,000,000    HighestSan Francisco % of list price received
Sales Price
   
$320,000    Lowest
Sales Price
   
$1,300,000    Median
Sales Price
   
1181    Number
of Units Sold
   
27    Average
Days on Market


So far this year we’ve seen a trend that has been missing in San Francisco real estate: Consistency!

Our inventory remains uncommonly low, with the number of available properties usually between 700 and 800 a month, split pretty evenly between single-family homes (SFH) and condos. Another consistent thread is that demand continues to outstrip that meager inventory. The median price of a SFH home increased by 33.3% since January, while condo prices rose 23.5%. This trend has been going on for several years now.

Not surprisingly, these increases are accompanied by a decline in the average Days on Market (DOM) to 27, which is a decrease of 32.55%. Additionally, over the last 14 months, the sale price of a property averages 8.4% over the asking price. What has also become consistent is a pattern of volatility over each quarter, both up and down.

However, for pricing, the trend continues up while inventory variability trends down. That said, it is still tough to make any kind of prediction as to the rest of the year. However, it is important to note that the economy in San Francisco and the Bay Area continues to be one of the strongest in the nation and is still growing, while population continues to increase by about one percent a year.

  David Ames 

  Top Producer 

 

  DavidAmes@zephyrsf.com

  (415) 271-2071

Comment balloon 4 commentsDavid Ames • August 20 2015 11:16AM

Comments

Hi David - SF market is similar to that on the Peninsula. Belmont has 9 active listings today; San Carlos 9 single family homes and 1 condo. That's it. And lots of buyers.

Posted by Lottie Kendall, Serving San Mateo County and San Francisco (Today | Sotheby's International Realty) almost 2 years ago

It'll be interesting if inventory picks up after Labor Day.

Posted by David Ames, San Francisco (Zephyr Real Estate, San Francisco) almost 2 years ago

David Ames 

Very good report and graphics. Hope you have a wonderful weekend. 

Posted by Alan Kirkpatrick, Alan in Austin (Austin Texas Homes) almost 2 years ago

David, great market update for San Francisco, and know your market has been crazy! 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) almost 2 years ago

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