san francisco real estate: September 2020 San Francisco Real Estate Market Update - 10/21/20 01:15 PM
In September the median sales price for single family homes was up again year-over-year as well as compared to August, while the condo/ loft market continued to see decreases over the same periods. Condo pricing has softened due to large inventory on the market as discussed in last month's update. The condo market has been slowly eroding for about the last year, but COVID seems to have sped up the process. 
 
I also included 3rd quarter stats here. Read them all below.
 
Median Price September:
Single family home prices rose 9.5% year-over-year, while condos and lofts decreased 8.9%. As you can see in the … (0 comments)

san francisco real estate: For Sale: Top Floor Corner Unit in Pacific Heights - 09/26/20 11:39 AM
Classic San Francisco Living at 2211 California Street #400
One Bedroom/ One Bath Condo
 
This top floor corner unit is light, bright and airy. The living room/ dining room combo brings spaciousness and comfortable living. Because you're on the top floor, light floods the living space. The corner unit allows for an additional living room window, bringing in even more brightness.
The kitchen opens into the dining/ living area and has stainless steel appliances, quartz countertop, dishwasher and a 5-burner gas stove. Perfect for entertaining or a cozy night at home.The open wall to the right keeps the kitchen feeling spacious. The window … (7 comments)

san francisco real estate: August 2020 San Francisco Real Estate Market Update - 09/18/20 04:10 PM
Single family home prices nudged up a bit year-over-year while condo and loft prices remained flat in August. New listings for single family homes decreased compared to last year and last month, but they also saw an increase in active listings by the end of the month. Meanwhile condos and lofts increased for both. As more inventory comes on the market more homes are selling closer to their asking price and fewer are selling for gang-busters over their list price.
 
But the "big story" I'm asked a lot about is the condo market. August marked the third month in a row that … (1 comments)

san francisco real estate: July 2020 San Francisco Real Estate Market Update - 08/26/20 11:22 AM
 Median prices were up year-over-year in July, showing San Francisco real estate continues to be a healthy market albeit not has "gangbusters" as we've seen in years past. After years of weak inventory we're seeing an influx of new listings particularly in the condo market, with some neighborhoods seeing buyers market levels of inventory available. Currently it's a mixed market with both prices and inventory rising, and single family homes seeing greater demand than condos. See all the stats below.
 
Median Sales Price:
Home sales overall rose in July compared to the same month last year. The median sales price for a single … (1 comments)

san francisco real estate: June 2020 San Francisco Real Estate Market Update - 07/20/20 02:12 PM
June statistics show that after a so-so May San Francisco real estate revived a bit, particularly with single family homes which hit a new median price high. Condos and lofts prices also lifted compared to May, but are still down compared to last year. Dirt-cheap interest rates continue to drive buyer demand, and create an excellent opportunity for buyers who are ready and able to jump into the market. Interest rates have great impact on buying power, the amount of a loan buyers can qualify for.
Overall, inventory has increased with months supply of inventory reaching it's highest levels since 2011. That … (2 comments)

san francisco real estate: May 2020 San Francisco Real Estate Market Update - 05/20/20 01:54 PM
As we round the corner into month three of the Bay Area shelter-in-place, things seem to be slowly but surely opening up. In some ways real estate in San Francisco never fully closed, though our ways of conducting business has changed dramatically. Many sellers either pulled their properties off the market or postponed their on-market date, but not all did. And buyers were still out buying.
 
 These are encouraging signs for Bay Area real estate because:
- This reflects the fact that this began as a health crisis, not an economic crisis.
- It reinforces that this is a short-term problem with a long-term … (5 comments)

san francisco real estate: April 2020 San Francisco Real Estate Market Update - 04/21/20 11:20 AM
As we move into month 2 of the Coronavirus shelter-in-place, real estate in San Francisco and the Bay Area continues to chug along, albeit in a much more limited way. The following statistics represent the market in March. So sales statistics are based on properties that were mostly in escrow prior or just as the shelter-in-place order was given to start on March 17th. Therefore we're not going to see any statistics reflecting how pricing was effected by the shelter, if it was at all, until next month or the month after. However, what we can see from these numbers is … (2 comments)

san francisco real estate: March 2020 San Francisco Real Estate Market Update - 04/01/20 01:07 PM
Here are the statistics for the February real estate market in San Francisco. The pre-Spring market got off to a healthy start with both single family homes and condos/ lofts seeing increases in median sales price. Homes continued to sell quickly overall, with both average days on market and months supply of inventory decreasing. More than not homes are selling for over the list price, though we aren't seeing the massive overbids overall that we've seen in the past. Some homes are selling well over their asking price while others are not getting the same "bump." It's more property-by-property, which could … (3 comments)

san francisco real estate: February 2020 San Francisco Real Estate Market Update - 02/11/20 10:47 AM
Happy Lunar New Year! It may be the Year of the Rat this year, but so far it doesn't look like it's the year of more housing inventory for San Francisco. In January the median price for single family homes and condos and lofts increased, but both new and active listings were down double-digits.
It's important to contextualize, though, that in real estate the statistics are typically 30-60 days behind. Home sales that closed in January are primarily homes that were put on the market over the holiday season. Also, Spring is typically our biggest season when the most homes come on … (1 comments)

san francisco real estate: San Francisco Real Estate 2019 Market Statistics by District - 01/23/20 11:32 AM
In 2019 the median price for a San Francisco home grew by 2.1%, the smallest growth we've seen in years. Single family home prices grew by just 1.3%. Condo and loft prices grew by 3.9%. (If you want to see all of my market statistics for 2019 you can find them here). But not all areas grew or contracted equally. Below are the 2019 statistics for median sales price for homes broken out by district. San Francisco is broken into 10 districts, with multiple sub-districts and neighborhoods comprising each larger district. You can see a map of San Francisco's districts here.
 If … (2 comments)

san francisco real estate: January 2020 Real Estate Market Update - 2019 Wrap-Up - 01/14/20 03:25 PM
Happy New Year!!
As we dive full-force into 2020 here's a quick look back at how the San Francisco real estate market fared in 2019. Prices grew, though not as dramatically as in previous years. Inventory continued to be an impediment with fewer new listings than the previous year. That, combined with buyer demand, contributed to homes still selling quickly with many selling for over their listing price.
The past several years has seen a crazy real estate market with eye-popping price increases, but it is possible that trajectory is now slowing. Still, expect next year to be another healthy year for San … (3 comments)

san francisco real estate: December 2019 San Francisco Real Estate Market Update - 12/16/19 12:58 PM
 Happy Holidays!
 
November begins the slower time of the San Francisco real estate market.  Fewer homes come on, particularly on the higher end, and often buyers move their attention toward end of year festivities. We can expect even fewer homes will come on the market in December. Many homes that haven't yet found their buyer will come off the market until after the holidays (which is not to say that they all aren't open to a buyer's interest, so if you see something you might like let me know).
Still, the San Francisco market remained solid given the limited inventory, which was even … (0 comments)

san francisco real estate: San Francisco Real Estate Market Update: November 2019 - 12/01/19 05:30 PM
October began with a slight "chill" in the air. Not the temperature, but a feeling like perhaps the real estate market was slipping a bit. September brought it's usual influx of new listings (though not as many as the previous year) and while the market was moving it started to feel that things were stalling a bit. Many properties sold quickly with multiple offers but others were taking a bit longer.
And yet, the market continued to chug along. Sellers are selling and buyers are buying. And as the statistics for the month show, the San Francisco real estate market continues … (1 comments)

san francisco real estate: San Francisco Real Estate Market Update: October 2019 - 10/21/19 02:13 PM
There's been a lot of chatter about the softening of the San Francisco real estate market, particularly in the past couple of months. The good news, though, is that buyers are still buying and sellers are still selling. Interest rates remain incredibly low and people still want to own a piece of this beautiful city.
The San Francisco market continues to see sales price growth, though perhaps more modest than what we've seen in recent years even including the solid growth of the market this past Spring. It's important to note, though, that real estate is both cyclical and seasonal. A cycle … (5 comments)

san francisco real estate: San Francisco Real Estate Market Update August 2019 - 08/28/19 12:58 PM
Happy End of Summer! I hope you had a wonderful, relaxing time with friends and family.
 
The July statistics for the San Francisco real estate market are out and you can check them out below. As always, if there is anything I can help you or someone you know with regarding real estate, don't hesitate to reach out.
 
Median Sales Price:
The median sales price for homes dropped in July compared to June. This in and of itself isn't suprising. The Spring selling season typically brings the highest prices annually, and June is when the last of those transactions are closing. The summer … (1 comments)

san francisco real estate: San Francisco Real Estate Market Update: July 2019 - 07/17/19 01:51 PM
 We're half way through 2019 and the San Francisco real estate market is heating up again. Median sales prices soared in June, reaching new highs. Expect the summer months to slow slightly before the market takes off again for the Fall selling season. 
Happy Summer!
 
Median Sales Price:
After a pretty lackluster first quarter, where home sale prices fell compared to the 4th quarer of 2018, there was a palpable shift as we headed into the Spring months of April and May. Those results are finally coming to light as home prices soared to a new high for June, a reflection of sales of properties that … (0 comments)

san francisco real estate: San Francisco Real Estate Market Update - March 2019 - 03/14/19 11:05 AM
We are in full swing for the 2019 San Francisco real estate market. Median sales prices ticked up compared to last month, though single family home prices were down compared to the same month last year. Inventory is again anemic with fewer new listings than last month or last year. The average days on market are also shortening compared to January , though they are still longer than what we saw for most of last year. Check out all of the February stats below!
 
Median Sales Price:
The median sales price for a single family home shot back up to over $1.5 million, … (3 comments)

san francisco real estate: San Francisco Economic and Real Estate 2019 Forecast - 02/13/19 07:51 PM
Last week I had the opportunity to attend a seminar hosted by the San Francisco Women's Council of Realtors that featured an amazing panel of local pros:
Patrick Carlisle, Compass Chief Market Analyst, Compass Paul Zeger, Partner at Polaris Pacific Gary Slossberg, Senior Economist at Wells Capital Management, Inc. Research Division  The focus of this moderated panel discussion was to examine the current and forecasted Bay Area economy and real estate market for 2019. It was a very instructive event, so I thought I would share some of the highlights.
 
On 2018:
The panel was asked to describe 2018 in a few words. … (1 comments)

san francisco real estate: San Francisco Real Estate Market Update - February 2019 - 02/13/19 12:10 PM
January sales are typically among the lowest of the year. That is because in real estate, the data is the result of what the market looked like 30-45 days prior. So January sales reflect what was happening and on the market in late November and December. In these months, sales are slower as sellers hold off until after the holidays, particularly in the higher-priced luxury market, and many buyers take a break as well.
The good news is that so far February seems to be picking up. We've gotten more inventory on the market and judging from the open houses I've hosted … (1 comments)

san francisco real estate: San Francisco Real Estate Market Update - November 2018 - 11/20/18 05:25 PM
Inventory continued to be strong in October although some...but not all...homes were stitting on the market longer than in months past. The majority of homes are still selling for over their list price, though the percentage over that price is less than we've seen previously. This is particularly true for single family homes, which for many months have seen great comeptition. In October the months supply of inventory for single family homes reached 2 1/2 months, which was lower than the previous month but still up double digits compared to the same month last year.
This may be the result of … (1 comments)