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AUGUST 2020 Report – San Francisco Real Estate Market Update for July 2020
The number of homes in the Overall Sales category sold in JULY increased again from the previous month but was much less than a year ago in the San Francisco Real Estate Market. The continued COVID-19 pandemic lock down, restrictions by the City of San Francisco and the Black Lives Matter violence continues to have a lot to do with changing the real estate market.
As you can see. the average sale price versus list price is about the same as last month but was well less than a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Average days on the market were slightly higher than last month as well as a year ago.
What do these current numbers all mean? As you can see, single family homes UNDER $2M (on average) continue to be the best performer. The average increase was more than 7% over the asking price, slightly less than the previous month and way below a year ago indicating fewer over asking price offers. Buyers seem to finally be in the driver’s seat. The rest of the categories are getting closer and closer to “normal” markets in other areas. The number of homes increased from last month but were less than a year ago. Once again we have two categories where the average sales price dipped under the average list price. This would indicate that there are fewer multiple offers and offers coming in for LESS than the listing price.
If you are thinking of selling this is still a GOOD time to BUY. And it can be a great time to SELL with the right agent. Whether you are buying or selling, call Janis Stone at 866-224-8024 or Bethany Patten at 415-235-9077 TODAY!
* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.
July 2020 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 8 | $3,178,143 | $3,209,897 | 101.00% | 31 |
| Single Family Under $2M | 130 | $1,303,144 | $1,406,026 | 107.89% | 23 |
| Condominium | 211 | $1,454,415 | $1,462,109 | 100.53% | 35 |
| Loft Condo | 17 | $1,075,059 | $1,056,765 | 98.30% | 33 |
| Co-op | 10 | $1,140,700 | $1,112,000 | 97.48% | 93 |
| TIC | 20 | $1,302,900 | $1,321,388 | 101.42% | 43 |
| ALL * | 464 | $1,731,390 | $1,764,529 | 101.91% | 34 |
June 2020 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 91 | $3,538,032 | $3,540,299 | 100.06% | 27 |
| Single Family Under $2M | 125 | $1,306,382 | $1,411,946 | 108.08% | 23 |
| Condominium | 142 | $1,408,334 | $1,411,849 | 100.25% | 31 |
| Loft Condo | 11 | $1,100,355 | $1,074,931 | 97.69% | 43 |
| Co-op | 3 | $4,031,667 | $3,900,000 | 96.73% | 86 |
| TIC | 18 | $1,328,944 | $1,298,333 | 97.70% | 44 |
| ALL * | 361 | $1,901,277 | $1,924,209 | 101.21% | 30 |
July 2019 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 62 | $3,117,904 | $3,356,337 | 107.65% | 25 |
| Single Family Under $2M | 141 | $1,178,194 | $1,374,543 | 116.66% | 22 |
| Condominium | 197 | $1,255,698 | $1,341,074 | 106.84% | 31 |
| Loft Condo | 14 | $1,098,500 | $1,173,214 | 106.80% | 17 |
| Co-op | 4 | $1,749,750 | $1,770,000 | 101.16% | 59 |
| TIC | 17 | $1,078,588 | $1,165,824 | 108.09% | 48 |
| ALL * | 505 | $1,712,511 | $1,840,075 | 107.45% | 31 |
* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4 Units, and 5+ Units. (If you add all categories, 5+ units accounts for the extra numbers.)** Figures subject to change as Multiple Listing Service is updated.+ Formerly, condominium statisticsincluded condos, co-op, lofts and TICs.Realtor.com is the official site of the NationalAssociation of Realtors® (NAR) and is a search engine for realestate nationwide. Realtor.comhas all of San Francisco’s listed homes and condominiums.
