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Market Conditions for San Francisco, California
Reported by Andrew La Mont, REALTOR
Updated October 1, 2008.
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Current Market Rating: 3
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Buyer's
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Seller's
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Current Price Trend: 2
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Falling
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Rising
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Trends at a Glance
(Single-family Homes)
Aug 08 Jul 08 Aug 07
Home Sales: 195 217 199
Median Price: $845,000 $850,000 $925,000
Average Price: $1,126,614 $1,153,269 $1,151,952
Sale/List Price Ratio: 99.9% 101.7% 106.1%
Days on Market: 56 47 36
(Lofts/Townhomes/TIC)
Aug 08 Jul 08 Aug 07
Home Sales: 198 261 265
Median Price: $725,000 $777,250 $725,000
Average Price: $835,122 $891,173 $847,209
Sale/List Price Ratio: 100.2% 100.4% 102.0%
Days on Market: 69 58 46
Trends at a Glance
(Single-family Homes)
Jul 08 Jun 08 Jul 07
Home Sales: 217 212 209
Median Price: $850,000 $827,500 $899,000
Average Price: $1,153,269 $1,244,351 $1,277,084
Sale/List Price Ratio: 101.7% 100.1% 104.6%
Days on Market: 47 46 37
(Lofts/Townhomes/TIC)
Jul 08 Jun 08 Jul 07
Home Sales: 261 214 261
Median Price: $777,250 $773,750 $749,000
Average Price: $891,173 $879,281 $828,558
Sale/List Price Ratio: 100.4% 99.9% 103.1%
Days on Market: 58 69 42
Trends at a Glance
(Single-family Homes)
Jun 08 May 08 Jun 07
Home Sales: 212 224 215
Median Price: $827,500 $878,250 $930,000
Average Price: $1,244,351 $1,318,214 $1,270,620
Sale/List Price Ratio: 100.1% 100.8% 103.7%
Days on Market: 46 38 34
(Lofts/Townhomes/TIC)
Jun 08 May 08 Jun 07
Home Sales: 214 254 298
Median Price: $773,750 $790,000 $755,000
Average Price: $879,281 $891,363 $899,079
Sale/List Price Ratio: 99.9% 99.8% 103.0%
Days on Market: 69 57 45
Trends at a Glance
(Single-family Homes)
May 08 Apr 08 May 07
Home Sales: 224 181 223
Median Price: $878,250 $933,500 $976,000
Average Price: $1,318,214 $1,207,183 $1,330,539
Sale/List Price Ratio: 100.8% 103.8% 104.4%
Days on Market: 38 40 37
(Lofts/Townhomes/TIC)
May 08 Apr 08 May 07
Home Sales: 254 201 306
Median Price: $790,000 $755,000 $762,708
Average Price: $891,363 $917,238 $825,069
Sale/List Price Ratio: 99.8% 101.1% 102.6%
Days on Market: 57 51 44
Trends at a Glance
(Single-family Homes)
Apr 08 Mar 08 Apr 07
Home Sales: 181 147 191
Median Price: $933,500 $895,000 $913,000
Average Price: $1,207,183 $1,194,232 $1,142,472
Sale/List Price Ratio: 103.8% 101.7% 106.4%
Days on Market: 40 43 35
Trends at a Glance
(Single-family Homes)
Mar 08 Feb 08 Mar 07
Home Sales: 147 137 194
Median Price: $895,000 $825,000 $893,825
Average Price: $1,194,232 $1,152,875 $1,261,879
Sale/List Price Ratio: 101.7% 100.0% 103.3%
Days on Market: 43 48 43
Trends at a Glance
(Single-family Homes)
Feb 08 Jan 08 Feb 07
Home Sales: 137 106 183
Median Price: $825,000 $900,000 $808,000
Average Price: $1,152,875 $1,183,974 $997,777
Sale/List Price Ratio: 101.0% 99.6% 101.4%
Days on Market: 48 61 48
Trends at a Glance
(Single-family Homes)
Jan 08 Dec 07 Jan 07
Home Sales: 106 157 112
Median Price: $900,000 $810,000 $844,500
Average Price: $1,183,974 $1,216,458 $1,059,911
Sale/List Price Ratio: 99.6% 99.1% 100.4%
Days on Market: 61 55 58
Trends at a Glance
Dec. 2007
(Single-family Homes)
Dec 07 Nov 07 Dec 06
Home Sales: 157 178 205
Median Price: $810,000 $917,500 $812,990
Average Price: $1,216,458 $1,246,948 $1,018,977
Sale/List Price Ratio: 99.1% 101.8% 100.9%
Days on Market: 55 38 47
Median Price for Homes Goes Back Over $900,000
Trends at a Glance
(Single-family Homes)
Nov 07 Oct 07 Nov 06
Home Sales: 178 202 224
Median Price: $917,500 $884,500 $825,000
Average Price: $1,246,948 $1,334,799 $1,054,194
Sale/List Price Ratio: 101.8% 102.4% 100.7%
Days on Market: 38 38 41
The median price for single-family, re-sale homes gained 3.7% to go back over $900,000 for the first time since August. Year-over-year, the median price is up 11.2%. The average price dropped 6.6% from the record high set in October. It was up 18.3% compared to last November.
Home sales fell 11.9% from October, down 20.5% year-over-year. Year-to-date, home sales are down 11.2%.
The median price for condos in San Francisco dipped 1.2% to $745,750 from October, up 20.5% year-over-year. The average price for condos gained 0.2% to $886,607, month-over-month. The average price was up 20.2% year-over-year.
San Francisco condo sales were down 8% in November, down 17.6% year-over-year. Year-to-date, condo sales are down 1.5%.
Property Sales Bounce Back in October
Trends at a Glance
(Single-family Homes)
Oct 07 Sep 07 Oct 06
Home Sales: 202 152 235
Median Price: $884,500 $882,500 $840,000
Average Price: $1,334,799 $1,041,775 $1,160,860
Sale/List Price Ratio: 102.4% 103.0% 101.7%
Days on Market: 38 37 40
Home sales rebounded in October from a dismal September. Sales of single-family, re-sale homes rose 32.9% from the month before, but were down 14% year-over-year. Year-to-date, home sales are down 9.8%.
The median price for single-family, re-sale homes gained 0.2%, a year-over-year gain of 5.3%. The average price soared 28.1%, up 15% compared to last October.
The median price for condos in San Francisco rose 5.4% to $827,000 from September, up 5.4% year-over-year. The average price for condos gained 8.3% to $884,401, month-over-month. The average price was up 10.4% year-over-year.
San Francisco condo sales were up 28.9% in October, up 14.2% year-over-year. Year-to-date, condo sales are up 0.5%.
Credit Crunch Crunches Sales
Trends at a Glance
(Single-family Homes)
Sep 07 Aug 07 Sep 06
Home Sales: 152 199 218
Median Price: $882,500 $925,000 $828,000
Average Price: $1,041,775 $1,151,952 $1,034,913
Sale/List Price Ratio: 103.0% 106.1% 101.3%
Days on Market: 37 36 41
As expected, the credit crunch had a big impact on sales in September. Sales of single-family, re-sale homes fell 23.6% from the month before, and were off 30.3% year-over-year. Year-to-date, home sales are off 9.3%. We expect sales to be slow this month, then start to recover at the end of the quarter as the credit crunch is alleviated.
The median price for single-family, re-sale homes dropped 4.6%, a year-over-year gain of 6.6%. The average price fell 9.6%, up 0.7% compared to last September.
The median price for condos in San Francisco fell 4.3% to $785,000 from August, up 1.3% compared to last September. The average price for condos lost 3.6% to $816,513, month-over-month. The average price was up 8.6% year-over-year.
San Francisco condo sales fell 26.8% in September, down 10.6% year-over-year. Year-to-date, condo sales are down 0.8%.
Trends at a Glance
(Single-family Homes)
Aug 07 Jul 07 Aug 06
Home Sales: 199 209 215
Median Price: $925,000 $899,000 $840,000
Average Price: $1,151,952 $1,277,084 $1,012,894
Sale/List Price Ratio: 106.1% 104.6% 102.3%
Days on Market: 36 37 40
The median price for condos in San Francisco in August rose 0.6% to $820,000 from July, up 10% compared to last August. The average price for condos gained 2.3% to $847,209, month-over-month. The average price was up 7.3% year-over-year.
San Francisco condo sales rose 1.5% in August, but was down 3.3% year-over-year. Year-to-date, condo sales are up 0.2%.
The median price for single-family, re-sale homes rose 2.9%, a year-over-year gain of 10.1%. The average price fell 9.8%, up 13.7% compared to last August.
Home sales fell 4.8%, month-over-month, and were down 7.4% year-over-year. Year-to-date, home sales are down 6.5%.
SAN FRANCISCO
JULY 15, 2007
Trends at a Glance
(Single-family Homes)
Jul 07 Jun 07 Jul 06
Home Sales: 209 215 225
Median Price: $899,000 $930,000 $875,000
Average Price: $1,277,084 $1,270,620 $1,078,073
Sale/List Price Ratio: 104.6% 103.7% 103.4%
Days on Market: 37 34 36
The current credit crunch has hit the jumbo loan market. Lenders are raising rates on jumbo loans, those for more than $417,000, by a full point, or more.
Jumbo loans are now a point and a half above conforming loans. That's way up from the traditional premium spread of about a half to three-quarters of a point.
Blame it on Wall Street which has stopped buying the loans, even those with AAA ratings. The lenders hope with the higher premium, Wall Street will start buying again. We hope this is only a temporary blip.
The median price for condos in San Francisco in July fell 4.1% to $815,000 from June, but was up 0.6% compared to last July. The average price for condos dropped 7.8% to $828,558, month-over-month. The average price was up 6.5% year-over-year.
San Francisco condo sales fell 12.4% in July, up 15.5% year-over-year. Year-to-date, condo sales are up 0.8%.
The median price for single-family, re-sale homes fell 3.3%, a year-over-year gain of 2.7%. The average price rose 0.5%, up 18.5% compared to last July.
Home sales fell 2.8%, month-over-month, and were down 7.1% year-over-year. Year-to-date, home sales are down 6.3%.
JUNE 15,2007
Condo Prices Set New Record Highs in June
Trends at a Glance
(Single-family Homes)
Jun 07 May 07 Jun 06
Home Sales: 215 223 273
Median Price: $930,000 $976,000 $900,000
Average Price: $1,270,620 $1,330,539 $1,248,896
Sale/List Price Ratio: 103.7% 104.4% 103.6%
Days on Market: 34 37 34
The median price for condos in San Francisco rose 11.8% to $850,000 from May, and was up 4.6% compared to last June. The average price for condos gained 9% to $899,079, month-over-month. The average price was up 3.7% year-over-year.
San Francisco condo sales fell 3.6% in June, up 6% year-over-year.
Single-family, re-sale home prices backed off the records set in May with the median price dropping 4.7%, a year-over-year gain of 3.3%. The average price fell 4.5%, up 1.7% compared to last June.
Home sales fell 3.6%, month-over-month, and were down 21.2% year-over-year. Year-to-date, home sales are down 6.2% while condo sales are down 1.4%.
MAY
Home Prices Set New Record Highs in May
Trends at a Glance
(Single-family Homes)
May 07 Apr 07 May 06
Home Sales: 223 194 217
Median Price: $976,000 $910,000 $883,000
Average Price: $1,330,539 $1,142,472 $1,210,759
Sale/List Price Ratio: 104.4% 105.3% 104.9%
Days on Market: 37 36 33
The median price for single-family, re-sale homes in San Francisco rose 7.3% from April, and was up 10.5% compared to last May. The average price for single-family homes spiked 16.5%, month-over-month. The average price was up 9.9% year-over-year.
For more details go to my site and click "San Francisco Monthly Market Condition"- about the middle of the page.
Approximate Location Boundaries: Located on the tip of the San Francisco Peninsula
Location Characteristics: San Francisco (population estimated 750,000 as of 2004)is is the fourth largest city in California. The City is the focal point of the San Francisco Bay Area and forms part of the greater San Jose-San Francisco-Oakland combined statistical area, whose population is over 7 million. The City has unique characteristics when compared to other major cities in the U.S., including its steep rolling hills, an eclectic mix of architecture including both Victorian style houses and modern skyscrapers, and unmatched physical beauty, surrounded by the Pacific Ocean and San Francisco Bay. San Francisco famous hallmarks include its cable cars, Golden Gate Park and the Golden Gate Bridge, Which are recongized worldwide.
For More Information:
View Market Conditions of other areas served by Andrew La Mont
Navigate: Top > California > San Francisco
About Andrew La Mont:
20+ years of experience. My main office is in San Francisco but my home office is in Millbrae. I currently do about 50% of my buisness in San Francisco and 50% in northern San Mateo County.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
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