San Francisco Q3 Print Real Estate Insights
A Closer Look
From Q2 2015 to Q2 2016 the condominium inventory increased by 27%. However, the median sale price remained stable during that same time frame. This means that buyer demand is keeping up with the increase in supply. Another sign of the condo market's strength: while the current perception of the condo market appears more volatile than the SFR market, the bottom of each year continues to exceed that of the previous year. In spite of the peaks and valleys of the last few years – often seasonal in nature – the market overall shows stability. This is not unexpected and is actually an indicator we might be entering a healthy, more balanced market. Some refer to this as a "soft landing," which is evidenced by increased Days on Market and a decrease in Percent of List Price Received. After the feverish growth of prior years, some leveling is inevitable and might be the most ideal outcome for the San Francisco housing market.