San Francisco Real Estate : San Francisco Real Estate Market / October 2015

San Francisco Real Estate Blog... Recent sales, Active listings, plus News, Tips, and Trends in the current market.

San Francisco Real Estate Market / October 2015

Zephyr Market Update  
The median sales price for single-family homes in San Francisco for September 2015 was $1,170,000. This represents an increase of 12.5%, or $130,000 compared to September 2014. Surprisingly, condos have also seen a $130,000 increase in median sales price, or 14.2%, to $1,045,000 for the same year-over-year comparison. Average days on market has remained pretty steady for single-family homes with a slight increase from 27 to 28 days; condos have seen a slight decrease from 39 to 37 days. The pressure of low inventory continues to have an impact on sales price. Speaking of inventory, there were 1,485 homes for sale (single-family and condos combined) during the month of September, which is a slight decrease of 3.3% compared to the same month last year. Prices are staying strong, with single-family homes selling at 116.6% of the original asking price and condos selling at 107.3% of original price. As always, real estate is local, so what’s happening on a city-wide level may be different in your neighborhood or even your street.
Median Sales Prices have seen notable increases year-over-year for both single-family homes and condos.
Average days on market are relatively steady year-over-year.
The above chart combines single-family homes and condos.
Months Supply of Inventory (MSI) is a measure of the number of months it would take the current inventory of available homes to sell out given the current rate of sale. This metric is often impacted by low inventory.
This chart shows the sales price as a percentage of the original asking price. It does not include properties that underwent price reductions.
Sales have dropped down a bit after busy Spring and Summer seasons.
Sales pace can vary widely across different areas of the City. Most areas, with a couple exceptions, have seen a year-over-year decrease in units sold comparing September 2014 to September 2015.

District Definitions: 1: Jordan Park/Laurel Heights, Lone Mountain, Lake Street, Sea Cliff and all Richmond. 2: All Sunset, all Parkside and Golden Gate Heights. 3: Stonestown, Pine Lake Park, Merced Manor, Ingleside Heights, Oceanview. 4: Sunnyside, Miraloma Park, St. Francis Wood, West Portal, Diamond Heights. 5: Noe Valley, Glen Park, Eureka Valley/Dolores Heights, Haight Ashbury, Mission Dolores. 6: Lower Pacific Heights, Western Addition, Hayes Valley, NOPA, Alamo Square. 7: Marina, Cow Hollow, Pacific Heights, Presidio Heights. 8: Van Ness/Civic Center, FiDi, Nob Hill, Russian Hill, North Beach. 9: SOMA, South Beach, Potrero, Bernal, Inner Mission. 10: Bayview, Portola, Excelsior, Crocker Amazon, Silver Terrace.

The San Francisco real estate market is highly nuanced. There is wide variance in median price, time on market and inventory from district to district. Further than that, some neighborhoods even have varying levels of demand and buyer-interest, which may be mere blocks apart. To get a thorough analysis of what’s happening in your area and how it impacts your own property’s value, feel free to call me at (415) 271-2071, or email me at davidames@zephyrsf.com.
Agent 1
David Ames
CalBRE # 01265683
(415) 271-2071
DavidAmes@zephyrsf.com
ZephyrRealEstate.com

 

  David Ames 

  Top Producer 

 

  DavidAmes@zephyrsf.com

  (415) 271-2071

Comment balloon 1 commentDavid Ames • October 29 2015 10:48AM

Comments

Fascinating report. Thanks for sharing!

Posted by Tamra Lee Ulmer, FORCE~NRBA ~ Over 1000 REO Assets SOLD! (Arizona Resource Realty) almost 2 years ago

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