Home sales in San Francisco - a detailed look at Q1 and Q2, current inventory, and expected in Q3 and @Q4
Compact San Francisco, bordered by water on 3 sides (the pale blue in the first photo) is divided into 10 real estate districts. Each district behaves differently in the market, both in price and "hotness" AKA days on market. Other factors beside location play into pricing, with tenant occupied properties causing the greatest drop in sale price.
Per SocketSite the number of homes listed for sale in San Francisco is roughly 530, 4% fewer than at the same time last year. Homes listed at $1,000,000 or less have dropped to 32 percent, which is down 6% from last year. Inventory levels are expected to jump after Labor Day and peak in October. A call to staging firms, pest and home inspectors all lend credence to the expected rise in inventory--firms are busy and booked several weeks out.
And one more interesting note: unemployment in San Francisco is running at 2.4%, having bottomed out in May at 1.9%.
Are you curious what is happening in your specific neighborhood, or to your condo or multi-family dwelling? Just ask. I'm happy to share more information with you.
Comments(17)