San Francisco Real Estate Market update

 

 
 
 

San Francisco - August 2016

The Real Estate Update

Zephyr Real Estate  
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In the fast paced and ever changing world of San Francisco real estate, reviewing yearly market trends with monthly breakdowns is the most viable way of staying on top of the market. Monitoring yearly data enables buyers and sellers to fully understand where the market has been and where it is going.

Overall, the real estate market has achieved a “Soft Landing’ this year, with the best evidence of this being the modest increase in median sales price. Over the past twelve months, condo prices have increased by 2.76%, and single-family homes by 6.25%. On a month-to-month basis, condo prices have remained relatively constant, while the price of single-family homes has varied by as much as $235,000.

 
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SFR Median Sales

$1,360,000

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SFR Avg. DOM

32

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Total Units Sold

422

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SFR % List Price Rcvd

108%

 
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Median Sales Price

6.3%

2.8%

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Average Days on Market

14%

23.3%

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# Units Sold

-16.1%

-9.7%

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More Insights

Over the last 12 months, there has been a very slight increase in Days on Market. To a seller eager to sell their home, an increase in Days on Market sounds daunting, but in reality, it has only taken 7 more days to sell a condo and 4 more days to sell a single-family home. This directly reflects the fact that inventory has increased 29% for single-family homes and 56% for condominiums. This translates to an increase in the Month’s Supply of Inventory (MSI), a term statisticians use to tell us how long it would take to sell out our current inventory, with single-family homes at 2.2 months and condominiums at 2.5 months. An MSI of 4 – 6 is considered a balanced market, thus we are still experiencing a strong seller’s market.

When looking at statistics, seasonality always has to be considered. The market is more active in spring and fall, and slower in winter and summer. However, even considering seasonality, the difference between list price and sale price has tightened over the last 12 months. When compared to last July, the average list price/sale price ratio for single-family homes is down by 8 points and down 4 points for condominiums. Although inventory has increased July over July, the number of sales has decreased, which helps explain the modest increase in appreciation. (These increases, by the way, would be considered good in most parts of the country). This is further evidence of the soft landing we’re experiencing.

 
 

% List Price Received

 

 

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Months Supply of Inventory

 

 

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SFRs - For Sale vs Under Contract + Sold

 

 

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Condos - For Sale vs Under Contract + Sold

 

 

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Closer to Home

recent sales citywide

 
 

653 Dolores Street
San Francisco

$6,150,000

3BR / 3BA

Sold at $6,100,000

 

751 Madrid Street
San Francisco

$499,000

2BR / 2BA

Sold at $620,000

 

3959-3961 Washington Street
San Francisco

$5,300,000

-BR / -BA

Sold at $4,995,000

 
 
 

210 Casitas Avenue
San Francisco

$1,995,000

4BR / 3BA

Sold at $2,200,000

 

1415 Indiana Street #204
San Francisco

$749,000

1BR / 2BA

Sold at $855,000

 

1674 26th Avenue
San Francisco

$1,575,000

5BR / 3BA

Sold at $1,575,000

 
 
 
 

Newest Listings »

 
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Community News

 
 

Learn more about one of San Francisco's busiest and eclectic neighborhoods, the Inner Mission, in this Neighborhood Spotlight featured on SFist.

Read More »

 

Use Eater's list of the Best Places to Brunch in San Francisco to plan your next Sunday dining adventure.

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Interested in venturing across the Bay Bridge with your four legged best friend, but not sure where to go? Thrillist has scoped out the top dog friendly spots in the East Bay.

Read More »

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

ZephyrRE.com

 
 

Data Source: San Francisco Association of Realtors Multiple Listing Service (SFAR MLS)

 


 


 

  David Ames 

  Top Producer 

 

  DavidAmes@zephyrsf.com

  (415) 271-2071

Comment balloon 1 commentDavid Ames • August 30 2016 12:40PM

Comments

David Ames These re very good real estate stats for San Francisco.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) almost 2 years ago

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