San Francisco Real Estate : Housing Trends San Francisco

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

Housing Trends San Francisco

 
 

San Francisco - February 2016

Real Estate Insights

Zephyr Real Estate  
  divider  
 

The end of 2015 saw a continued rise in the median sale price of homes in both San Francisco and Marin, but with a small dip and then a leveling off in the first part of 2016. Even before the stock market started trending downward, real estate in the Bay Area entered its usual holiday slowdown, which typically lasts from December 1 until the Super Bowl. With inventory at historical lows, we expect activity and prices to pick up again as we enter the spring market.

For a long view of real estate trends, the Case-Shiller Home Price Index is a good source. This index measures the change in the value of residential real estate in 10 U.S. Metropolitan areas, which includes the San Francisco Bay Area. As you can see, in spite of the recession of 2007-2011, San Francisco Bay Area real estate has not only retained its value, but has exceeded the high of 2006. In fact, according to the Case-Shiller Index, real estate values in the Bay area have doubled since 2000. However, it’s important to remember that this particular report is an index related to nine other metropolitan areas. It does not reveal actual home prices.

 
money icon

Median Sales Price

$1,160,000

calendar icon

Avg. Days on Market

43

house icon

# Homes Sold

101

percent icon

% List Price Received

107%

 
  divider  
 

Case-Shiller Home Price Index

   
Graph
 
 

Mortgage Interest Rates

   
Graph

Median Sales Price

   
Graph
 

What about interest rates?

Interest rates are also an important factor in the real estate market. When the Fed raised its rates late last year, everyone expected mortgage rates to climb. Instead, they have remained low, hovering between 3.5%-4.00%. Many analysts believe rates could return to historical lows. That’s usually good news for buyers, as qualifying for loans gets much easier. However, falling interest rates can also signal a weakening economy, which could pull buyers out of the market. A strong economy is better for all of us, even if it means interest rates bumping up a point.

There is every reason to believe that the Bay Area real estate market will remain strong. Our population continues to grow with qualified, employable people and there seem to be enough well-paying jobs to absorb them. Though the building boom in San Francisco continues apace, it is not enough to keep up with demand. All that, combined with interest rates that stay right about where they are, indicates that the market will be brisk and prices will continue to rise, though probably at a more reasonable pace.

 
 

Months Supply of Inventory

   
Graph
 

% Original List Price Received

   
Graph
 
 

Average Days on Market

   
Graph
 

# Units Sold

   
Graph
 
  divider  
 

Closer to Home

recent sales citywide

 
 

3373 22nd Street

$2,450,000

4BR / 3.5BA

Sold at $3,475,000

 

281 Summit Way

$1,459,000

3BR / 2.5BA

Sold at $1,512,381

 

295-299 14th Avenue

$1,985,000

4BR / 3BA

Sold at $1,900,000

 
 
 

3500 19th Street #303

$2,395,000

2BR / 2.5BA

Sold at $2,279,000

 

42 Lakeview Avenue

$914,000

-BR / -BA

Sold at $870,000

 

3831-3835 24th Street

$2,700,000

-BR / -BA

Sold at $2,600,000

 
 
 
 

Newest Listings »

 
  divider  
 

Community News

 
 

Take a peek inside these ultra luxe church-turned-townhouses, set to hit the market at almost $6.5M per unit.

Read More »

 

Bay Lights artist opens new light exhibit inspired by Buckminster Fuller’s geodesic domes. Opens at the Exploratorium March 5th.

Read More »

 

Ready for a staycation or mini getaway? Spectacular destinations abound within our Golden State. Check out these 20 hot spots.

Read More »

 
  divider  
 
   
David Ames - Top Producer 2015
(415) 271-2071
DavidAmes@zephyrsf.com
CalBRE # 01265683

ZephyrRE.com

 
 

Data Sources include: San Francisco Association of Realtors Multiple Listing Service (SFAR MLS), Bay Area Real Estate Information Services Multiple Listing Service (BAREIS MLS), Case-Shiller Home Price Index, and Mortgage Banker’s Association historic mortgage rates. Data from these sources is deemed reliable, but not guaranteed. Quick stats noted at the top of the newsletter are for Single Family Homes sold during the prior month.

 

 

  David Ames 

  Top Producer 

 

  DavidAmes@zephyrsf.com

  (415) 271-2071

Comment balloon 1 commentDavid Ames • February 29 2016 01:23PM

Comments

Thanks for the great market update on your community. One of the best parts of Active Rain is the local market updates!

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Long and Foster) over 1 year ago

This blog does not allow anonymous comments