San Francisco Real Estate : San Francisco Real Estate update June 2017

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San Francisco Real Estate update June 2017

San Francisco » June 2017

The Real Estate Update

Zephyr Real Estate  
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While 2017 started slowly, San Francisco has shown us, once again, that Real Estate here is unlike Real Estate anywhere else. March and May have seen a healthy rebound from the year’s slow start. For both condos and single-family homes, the number of listings is at a three year low for May, which has increased median selling prices. In fact, in May, single-family homes hit a new high with a median price of $1,501,675; Condos also reached a new peak of $1,200,000. For the first time in the last three years, the number of pending sales exceeds that of new listings. 2017 is shaping up to be the year of high demand and low supply.

In order to produce reliable sales statistics, we need to examine the San Francisco market as two distinct components: Condos and Single-Family homes. Buyers and sellers should review the information that is most relevant to their specific situation.

 
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SFH Med. Sales Price

$1,501,675

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SFH Avg. Days on Mkt.

14

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SFH Mo. Supply of Inv.

1.2

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SFH % List Price Rec'd

114.7%

 
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Median Sales Price

   
Graph

 

Condos vs. Single-family Homes

Condos:
Early in the year, several publications were predicting a slow-down in condo sales and prices. Based on the abundance of condos hitting the market and the decrease of pending sales, the forecast of an oversaturated market seemed reasonable. This has not been the case. Pending sales of condos are similar to those of the last three years. However, the ratio of sale price to list price has slipped to 102.7%.

Single-Family Homes:
The ratio of sale price to list price is one of the major differences between the condo market and the single-family market. The ratio for single-family homes in May was 114.7%. Due to intense demand and limited supply, single-family homes are instigating more competitive offers from buyers.

Closer to Home

recent sales citywide

 
 

440 11th Avenue
San Francisco

$2,999,000

5BR / 4BA

Sold at $3,000,000

 

4840 California Street
San Francisco

$1,598,000

3BR / 2BA

Sold at $1,665,000

 

490 Castenada Avenue
San Francisco

$2,450,000

4BR / 3BA

Sold at $2,750,000

 
 
 

750 Laguna Honda Boulevard
San Francisco

$1,695,000

4BR / 3BA

Sold at $1,748,000

 

164 Belvedere Street
San Francisco

$4,995,000

5BR / 5BA

Sold at $4,995,000

 

501 Rockdale Drive
San Francisco

$1,048,000

2BR / 2BA

Sold at $1,325,000

 
 
 
 

Newest Listings »

 
 

Recent Sales »

 

 

  David Ames 

  Top Producer 

 

  DavidAmes@zephyrsf.com

  (415) 271-2071

Comment balloon 1 commentDavid Ames • June 22 2017 03:39PM

Comments

It's always good to be in the know. Thanks for keeping us in the loop!

Posted by Jeremy K. Frost, Associate Broker, CNE, CRS, ePro, PSA (Keller Williams Realty) 6 months ago

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