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FEBRUARY 2021 – Back to business! – San Francisco Real Estate
Posted on: February 18, 2021
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The SFResidence Real Estate Review Hello from Janis and Bethany,
The bright spot in the real estate market last year was single family homes with multiple rooms and outdoor spaces for all the different activities that were taking place at home. Condos that sold well were ones with separate entrances and outdoor spaces. It was also a fabulous time for first time buyers and investors. Not only were prices lower than we have seen in quite a while for condos and homes but interest rates were so low that buying power increased to levels we have not seen for over a decade. However, FEAR was ever present on many levels. I describe FEAR as False Expectations Appearing Real. There were some brave, smart people who were secure in the income earning power that were able to take advantage of the situation. They bought properties and I think will look back on this time as one of the great buying opportunities in San Francisco. I know that all of you heard of the “migration” out of San Francisco. We did have many people, especially families accelerate their plans to relocate to either other cities and states or to adjoining counties such as Marin, Napa, Sonoma, Contra Costa, etc but we still have many people who want to stay in San Francisco and are looking forward to the time when we will see the many things we love about the City return. I had a listing on the Embarcadero in October and November and I was so thrilled to drive along the Embarcadero enjoying the water, blue sky, the Farmer’s Market at the Ferry Building and the diners enjoying outdoor dining. I remember the many happy memories of Giant’s games at the Ball Park and shopping at the Ferry Building. People were enjoying running and biking on the waterfront. None of that is gone forever. It will return along with all of the other exciting venues and restaurants. We need to support our City and the neighborhood businesses if we want to speed up the recovery and hang on to the ones we love. I rarely get on a “soapbox” but I am going to risk it today. We need to get more law and order in San Francisco. The crime and lack of a logical system to deal with the homeless problem is going to make recovery very difficult and operate at a snails pace. How do we do this? Write, call and talk with your dollars to the policy makers. Make your voice heard. The Board of Supervisors and the Mayor have to be inundated with complaints from their constituents and those who pay the taxes. Anyone who owns property in San Francisco should write and call them as many times as possible and tell them that you want change. I know that some of you own property but don’t live in the City anymore but your tax dollars support the system. If you pay for parking you support the system. If you buy anything in the City you are supporting the system and have a voice. They are going to go broke and have no money to support anything (even their salaries) if they don’t make policies that support small and large business. Small and large businesses cannot succeed if San Francisco does not make it safe and attractive, especially financially for them to do business. Their policies have allowed crime to flourish. One of the main businesses is tourism. As we get a vaccine and reach herd immunity tourism will return but not if the people do not think it is safe to visit. NOW is the time to act if you want San Francisco to return to it’s prior glory. I want it to return. I love San Francisco but sometimes that is not enough. ACTION IS NEEDED. Thank you for reading this —if you made it to the end. You will help yourselves and San Francisco if you take action. ========================================================= San Francisco Market Update by Patrick Carlisle
========================================================= If you are MOVING or KNOW SOMEONE WHO IS, we have GREAT AGENTS to whom we can refer with confidence! If you or someone you know needs to buy or sell property somewhere else in the country, keep us in mind. And you agents out there across the country who are receiving this newsletter, you are on our referral list for your area! ========================================================= |
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7 Reasons Why You Should Stop Renting and Buy a Home
Posted on: February 10, 2021
Many people argue that it is overrated to have house ownership but there are plenty of reasons and advantages why you should stop renting and buy a home.
The perks of house ownership that tend to stay stable over time include, the comfort of owning a home, building long-term equity, lower overall monthly cost, and of course pride that is associated with owning your own home.
Here are 7 reasons why you should stop renting and buy a home.
- Build equity in your own property
Owning a home simply means that now you have a property in your name.
The house that you buy can also have the potential to turn a profit; either as an investment property you sell later after equity build up or through renting it.
One of the leading reasons why people choose to buy a house over renting, is the financial benefits.
- Rents keep rising
If you live in a rented house, then most likely you’re facing the issue of increasing rent every year.
Do you know that our National Rent Index continues to climb? It shows that the rates grew 0.5 percent between May and June. Rates keep climbing over month-to-month growth of 0.5.
Currently, at the National Level year-to-year growth stands at 2.9 percent. In addition to that rates are now increasing in nearly all of the nation’s biggest markets.
But when you have your own house or property, your payment stays with you.
Unless you have an adjustable-rate mortgage or you refinance to take cash out or take out a home equity loan, your payment is not going anywhere!
- Stability for peace of mind
Another reason to buy a house over rent is that it provides a significant amount of stability for you and your family.
There are no such problems as the stress of rising rent prices or fear of being forced to move out due to the property being sold.
House ownership also provides you with mental stability; it will feel like a home that should be a secure and safe sanctuary for all – especially for young children.
- Decorating freedom
You could have seen that almost all rentals will have imposed rules on where and how you can decorate, and often times landlords are very stringent on what you can do to their property.
Restrictions may include no permanent gardening, no drilling into walls, stick-on hooks, and no painting.
However, in your home, it is totally up to you, so decorate to your heart’s content.
- You do not pay someone else’s mortgage
You build the equity of your landlord when you pay rent each month. And you do not see that money after moving.
But this does not happen when you own your house. Instead, you get to reap the profits of years of paying down the mortgage and not a landlord!
To make this happen, you need to make some moves and make house ownership a reality. Increase your savings to make a down payment and raise your credit score to qualify for a mortgage.
- Space for pets
A common downside that many people face when renting is the strict rules on pet ownership.
The problem with pets for most landlords, is they can be a nightmare. Pets can do serious damage to a property eating into the landlord’s bottom line.
That’s why many landlords shy away from allowing pets or charge monthly fees for allowing them.
If you own your home, you won’t have to worry about these restrictions.
- Build your home just the way you like it
When you are the owner of your home, there are no restrictions. You are free from all kinds of problems and stress.
You can build your house in any shape, in any way. Because it is your property, and you decide how to make it.
JANUARY 2021 Report – San Francisco Real Estate Market Update for December 2020
Posted on: January 31, 2021
The number of homes in the Overall Sales category sold in DECEMBER decreased from the previous month but were about the same as a year ago in the San Francisco Real Estate Market. However, as you can see, only one category (Single Family Homes under $2M) did properties sell, on average, for OVER the asking price. It appears the Covid experience has brought a buyers’ market. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market were about the same as the previous month as well as a year ago.
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.
December 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 111 | $3,759,088 | $3,694,583 | 98.28% | 43 |
Single Family Under $2M | 552 | $1,177,346 | $1,205,231 | 102.37% | 43 |
Condominium | 314 | $1,280,404 | $1,265,879 | 98.87% | 52 |
Tenancy In Common | 28 | $1,215,464 | $1,206,545 | 99.27% | 64 |
Townhouse | 16 | $1,441,250 | $1,436,611 | 99.68% | 49 |
Co-op | 9 | $2,284,222 | $2,216,222 | 97.02% | 92 |
ALL * | 419 | $1,432,315 | $1,418,584 | 99.04% | 54 |
November 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 56 | $3,475,576 | $3,488,653 | 100.38% | 35 |
Single Family Under $2M | 162 | $1,293,817 | $1,392,419 | 107.62% | 29 |
Condominium | 274 | $1,324,187 | $1,323,709 | 99.96% | 46 |
Loft Condo | 16 | $1,054,938 | $1,043,531 | 98.92% | 70 |
Co-op | 5 | $641,180 | $658,822 | 102.75% | 44 |
TIC | 28 | $1,367,107 | $1,356,272 | 99.17% | 60 |
ALL * | 608 | $1,670,151 | $1,696,068 | 101.55% | 41 |
December 2019 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 45 | $3,664,449 | $3,751,815 | 102.38% | 35 |
Single Family Under $2M | 126 | $1,212,741 | $1,311,187 | 108.12% | 29 |
Condominium | 161 | $1,245,010 | $1,288,026 | 103.46% | 46 |
Loft Condo | 10 | $1,061,200 | $1,058,320 | 99.73% | 32 |
Co-op | 3 | $1,347,667 | $1,381,667 | 102.52% | 45 |
TIC | 23 | $1,335,000 | $1,363,870 | 102.16% | 51 |
ALL * | 418 | $1,640,472 | $1,696,206 | 103.40% | 42 |
* 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.
DECEMBER 2020 Report – San Francisco Real Estate Market Update for November 2020
Posted on: December 5, 2020
The number of homes in the Overall Sales category sold in NOVEMBER decreased slightly from the previous month but were more than a year ago in the San Francisco Real Estate Market. However, the average sale prices versus list price is about the same as the previous month as well as a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market were about the same as the previous month as well as a year ago.
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.
November 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 56 | $3,475,576 | $3,488,653 | 100.38% | 35 |
Single Family Under $2M | 162 | $1,293,817 | $1,392,419 | 107.62% | 29 |
Condominium | 274 | $1,324,187 | $1,323,709 | 99.96% | 46 |
Loft Condo | 16 | $1,054,938 | $1,043,531 | 98.92% | 70 |
Co-op | 5 | $641,180 | $658,822 | 102.75% | 44 |
TIC | 28 | $1,367,107 | $1,356,272 | 99.17% | 60 |
ALL * | 608 | $1,670,151 | $1,696,068 | 101.55% | 41 |
October 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 93 | $3,023,020 | $3,074,627 | 101.71% | 30 |
Single Family Under $2M | 192 | $1,273,525 | $1,395,076 | 109.54% | 24 |
Condominium | 245 | $1,285,809 | $1,290,443 | 100.36% | 39 |
Loft Condo | 13 | $986,538 | $1,002,692 | 101.64% | 36 |
Co-op | 2 | $1,972,000 | $1,969,500 | 99.87% | 4 |
TIC | 30 | $1,068,200 | $1,093,117 | 102.33% | 56 |
ALL * | 624 | $1,629,477 | $1,672,031 | 102.61% | 35 |
November 2019 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 54 | $3,383,750 | $3,490,897 | 103.17% | 26 |
Single Family Under $2M | 142 | $1,271,804 | $1,430,893 | 112.51% | 23 |
Condominium | 221 | $1,273,757 | $1,330,814 | 104.48% | 33 |
Loft Condo | 11 | $1,184,727 | $1,246,877 | 105.25% | 27 |
Co-op | 5 | $1,866,000 | $1,853,500 | 99.33% | 49 |
TIC | 25 | $1,232,400 | $1,292,560 | 104.88% | 35 |
ALL * | 493 | $1,603,959 | $1,691,512 | 105.46% | 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.
NOVEMBER 2020 Report – San Francisco Real Estate Market Update for October 2020
Posted on: December 5, 2020
October 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 93 | $3,023,020 | $3,074,627 | 101.71% | 30 |
Single Family Under $2M | 192 | $1,273,525 | $1,395,076 | 109.54% | 24 |
Condominium | 245 | $1,285,809 | $1,290,443 | 100.36% | 39 |
Loft Condo | 13 | $986,538 | $1,002,692 | 101.64% | 36 |
Co-op | 2 | $1,972,000 | $1,969,500 | 99.87% | 4 |
TIC | 30 | $1,068,200 | $1,093,117 | 102.33% | 56 |
ALL * | 624 | $1,629,477 | $1,672,031 | 102.61% | 35 |
September 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 85 | $2,874,235 | $2,936,531 | 102.17% | 26 |
Single Family Under $2M | 152 | $1,275,053 | $1,376,480 | 107.95% | 24 |
Condominium | 256 | $1,325,978 | $1,324,443 | 99.88% | 41 |
Loft Condo | 15 | $1,156,767 | $1,133,300 | 97.97% | 47 |
Co-op | 7 | $2,832,143 | $2,791,857 | 98.58% | 96 |
TIC | 33 | $1,187,301 | $1,204,342 | 101.35% | 50 |
ALL * | 576 | $1,579,463 | $1,613,141 | 102.13% | 36 |
October 2019 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 90 | $2,693,033 | $2,912,371 | 108.14% | 19 |
Single Family Under $2M | 159 | $1,183,302 | $1,355,385 | 114.54% | 23 |
Condominium | 216 | $1,408,617 | $1,485,569 | 105.46% | 26 |
Loft Condo | 18 | $1,111,767 | $1,146,767 | 103.15% | 36 |
Co-op | 6 | $1,790,833 | $1,816,333 | 101.42% | 60 |
TIC | 17 | $1,155,583 | $1,182,671 | 102.32% | 42 |
ALL * | 557 | $1,677,802 | $1,798,123 | 107.17% | 28 |
* 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.
OCTOBER 2020 Report – San Francisco Real Estate Market Update for September 2020
Posted on: October 19, 2020
The number of homes in the Overall Sales category sold in SEPTEMBER decreased significantly from the previous month but were more than a year ago in the San Francisco Real Estate Market. However, the average sale prices versus list price is lower from the previous month as well as a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market were about the same as the previous month as well as a year ago.
What do these numbers mean? we’re starting to sound like a broken record, but as you can see, single family homes UNDER $2M (on average) continue to be the best performer. The average increase was almost 8% over the asking price, slightly less than the previous month and below a year ago. For the first time in a long time we have 3 categories that sold, on average, under the asking price. These were all in the generalized CONDO categories which tells us that buyers are most likely able to negotiate a better price with the seller.
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.
September 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 85 | $2,874,235 | $2,936,531 | 102.17% | 26 |
Single Family Under $2M | 152 | $1,275,053 | $1,376,480 | 107.95% | 24 |
Condominium | 256 | $1,325,978 | $1,324,443 | 99.88% | 41 |
Loft Condo | 15 | $1,156,767 | $1,133,300 | 97.97% | 47 |
Co-op | 7 | $2,832,143 | $2,791,857 | 98.58% | 96 |
TIC | 33 | $1,187,301 | $1,204,342 | 101.35% | 50 |
ALL * | 576 | $1,579,463 | $1,613,141 | 102.13% | 36 |
August 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 306 | $3,285,850 | $3,287,219 | 100.04% | 33 |
Single Family Under $2M | 544 | $1,299,200 | $1,413,790 | 108.82% | 23 |
Condominium | 831 | $1,357,862 | $1,358,441 | 100.04% | 42 |
Loft Condo | 56 | $1,299,071 | $1,266,232 | 97.47% | 55 |
Co-op | 19 | $1,131,842 | $1,098,632 | 97.93% | 62 |
TIC | 102 | $1,133,412 | $1,134,914 | 100.13% | 35 |
ALL * | 2031 | $1,702,989 | $1,730,571 | 101.62% | 36 |
September 2019 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 38 | $3,495,762 | $3,714,976 | 106.27% | 33 |
Single Family Under $2M | 84 | $1,205,345 | $1,357,295 | 112.61% | 26 |
Condominium | 157 | $1,416,787 | $1,472,054 | 103.90% | 33 |
Loft Condo | 7 | $1,084,929 | $1,158,643 | 106.79% | 29 |
Co-op | 4 | $1,298,500 | $1,345,000 | 103.58% | 95 |
TIC | 17 | $1,342,882 | $1,413,765 | 105.28% | 42 |
ALL * | 354 | $1,770,391 | $1,862,813 | 105.22% | 34 |
* 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.
SEPTEMBER 2020 Report – San Francisco Real Estate Market Update for August 2020
Posted on: September 10, 2020
Let us preface this by saying we have not seen numbers quite like this in a very long time. The number of homes in the Overall Sales category sold in AUGUST were over 4 times as many from the previous month and 5 times as many as a year ago in the San Francisco Real Estate Market. In spite of the continued COVID-19 pandemic lock down (or maybe because of it?), restrictions by the City of San Francisco and the Black Lives Matter violence continues to have a lot to do with people leaving the San Francisco real estate market. As you can see. the average sale price overall versus list price is a little less than last month but much more 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 almost 9% over the asking price, more than the previous month but below a year ago indicating fewer over asking price offers in all the categories we track. We are noticing is the significant increase in people selling their homes. But at the same time there are buyers ready to take the place of those leaving. The rest of the categories are getting closer and closer to “normal” markets (100% of asking price or less) in other categories. As stated above, the number of homes sold were over 4 times as many last month and 5 times as many as a year ago.
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.
August 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 306 | $3,285,850 | $3,287,219 | 100.04% | 33 |
Single Family Under $2M | 544 | $1,299,200 | $1,413,790 | 108.82% | 23 |
Condominium | 831 | $1,357,862 | $1,358,441 | 100.04% | 42 |
Loft Condo | 56 | $1,299,071 | $1,266,232 | 97.47% | 55 |
Co-op | 19 | $1,131,842 | $1,098,632 | 97.93% | 62 |
TIC | 102 | $1,133,412 | $1,134,914 | 100.13% | 35 |
ALL * | 2031 | $1,702,989 | $1,730,571 | 101.62% | 36 |
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 |
August 2019 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 50 | $2,648,158 | $2,823,795 | 106.63% | 27 |
Single Family Under $2M | 110 | $1,192,677 | $1,385,686 | 116.18% | 25 |
Condominium | 163 | $1,370,038 | $1,440,066 | 105.11% | 32 |
Loft Condo | 7 | $801,573 | $842,716 | 105.13% | 41 |
Co-op | 3 | $1,278,000 | $1,257,000 | 98.36% | 59 |
TIC | 13 | $1,193,482 | $1,253,577 | 105.04% | 30 |
ALL * | 393 | $1,596,713 | $1,708,001 | 106.97% | 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.
AUGUST 2020 Report – San Francisco Real Estate Market Update for July 2020
Posted on: August 12, 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.
JULY 2020 Report – San Francisco Real Estate Market Update for June 2020
Posted on: July 11, 2020
The number of homes in the Overall Sales category sold in JUNE increased significantly from last 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 has a lot to do changing the real estate market.
As you can see. the average sale price versus list price is again less than last month as well as 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 about the same as last month as well as a year ago.
What do these current numbers all mean? Single family homes UNDER $2M (on average) continue to be the best performer. The average increase was more than 8% over the asking price. The rest of the categories are getting closer and closer to “normal” markets in other areas. There doesn’t seem to be as much competition to drive prices up as in the past. The number of homes increased from last month but were far less than a year ago. Once again we have three 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.
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 |
May 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 32 | $2,931,219 | $2,967,957 | 101.25% | 26 |
Single Family Under $2M | 72 | $1,340,699 | $1,429,259 | 106.61% | 23 |
Condominium | 87 | $1,225,864 | $1,239,866 | 101.14% | 38 |
Loft Condo | 5 | $925,136 | $912,936 | 98.68% | 58 |
Co-op | 1 | $12,500,000 | $9,330,000 | 74.67% | 50 |
TIC | 9 | $1,330,778 | $1,326,111 | 99.65% | 52 |
ALL * | 220 | $1,642,565 | $1,667,983 | 101.55% | 34 |
June 2019 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 70 | $3,197,457 | $3,421,708 | 107.01% | 21 |
Single Family Under $2M | 111 | $1,183,512 | $1,384,395 | 116.97% | 22 |
Condominium | 217 | $1,371,618 | $1,455,571 | 106.12% | 28 |
Loft Condo | 15 | $1,120,800 | $1,201,600 | 107.21% | 24 |
Co-op | 4 | $2,420,750 | $2,411,250 | 99.61% | 67 |
TIC | 20 | $1,291,075 | $1,334,400 | 103.36% | 59 |
ALL * | 495 | $1,740,033 | $1,865,687 | 107.22% | 29 |
* 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.
JUNE 2020 Report – San Francisco Real Estate Market Update for May 2020
Posted on: June 3, 2020
The number of homes in the Overall Sales category sold in May decreased from last month as well as a year ago in the San Francisco Real Estate Market. The continued COVID-19 pandemic lock down and now the George Floyd violence has a lot to do with this drastic reduction in numbers.
The average sale price versus list price is less than last month as well as 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 crept up from last month as well as a year ago.
What do these current numbers all mean? Single family homes UNDER $2M (on average) continue to be the best performer. The average increase was more almost 7% over the asking price. The rest of the categories are getting closer and closer to “normal” markets in other areas. Once again the number of homes decreased from last month and were far less than a year ago. For the first time in a long time we have three categories where the average sales price dipped under the average list price.
So if you are thinking of selling this is still a GREAT time to SELL. And it can be a great time to BUY 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.
May 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 32 | $2,931,219 | $2,967,957 | 101.25% | 26 |
Single Family Under $2M | 72 | $1,340,699 | $1,429,259 | 106.61% | 23 |
Condominium | 87 | $1,225,864 | $1,239,866 | 101.14% | 38 |
Loft Condo | 5 | $925,136 | $912,936 | 98.68% | 58 |
Co-op | 1 | $12,500,000 | $9,330,000 | 74.67% | 50 |
TIC | 9 | $1,330,778 | $1,326,111 | 99.65% | 52 |
ALL * | 220 | $1,642,565 | $1,667,983 | 101.55% | 34 |
April 2020 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 39 | $4,210,846 | $3,980,627 | 94.53% | 23 |
Single Family Under $2M | 63 | $1,207,422 | $1,334,651 | 110.54% | 21 |
Condominium | 95 | $1,339,358 | $1,395,232 | 104.17% | 31 |
Loft Condo | 6 | $1,148,333 | $1,215,000 | 105.81% | 15 |
Co-op | 2 | $2,474,000 | $2,750,000 | 111.16% | 16 |
TIC | 8 | $1,170,249 | $1,185,375 | 101.29% | 59 |
ALL * | 233 | $1,929,032 | $1,950,283 | 101.10% | 28 |
May 2019 **
Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
Single Family $2M & Over | 55 | $3,242,599 | $3,428,542 | 105.73% | 22 |
Single Family Under $2M | 140 | $1,218,726 | $1,386,485 | 113.77% | 23 |
Condominium | 260 | $1,233,371 | $1,327,703 | 107.65% | 28 |
Loft Condo | 19 | $1,077,667 | $1,106,709 | 102.69% | 32 |
Co-op | 12 | $2,078,149 | $2,081,167 | 100.15% | 33 |
TIC | 28 | $1,303,393 | $1,379,067 | 105.81% | 41 |
ALL * | 610 | $1,721,938 | $1,827,213 | 106.11% | 30 |
* 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.