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JUNE 2020 Report – San Francisco Real Estate Market Update for May 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.
