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MAY 2020 Report – San Francisco Real Estate Market Update for April 2020
The number of homes in the Overall Sales category sold in April decreased significantly from the previous month as well as a year ago in the San Francisco Real Estate Market. The COVID-19 pandemic lock down during April has had a lot to do with this drastic reduction in numbers.
Even so, the average sale price versus list price is more than the previous month as well as a year ago indicating prices are continue to creep up. 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 the same as the previous month but were far less than 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 10% over the asking price. The number of homes decreased drastically from last month and were far less than a year ago. For the first time in a long time even Single Family Homes OVER $2M were affected as the average sales price dipped under the average list price for the first time in a very long time. Since this was the first full month with the COVID-19 restrictions it is interesting to see the numbers continuing to be strong.
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.
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 |
March 2020 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 56 | $3,140,964 | $3,301,018 | 105.10% | 18 |
| Single Family Under $2M | 101 | $1,210,451 | $1,375,082 | 113.60% | 22 |
| Condominium | 181 | $1,323,352 | $1,375,082 | 103.91% | 27 |
| Loft Condo | 15 | $1,466,093 | $1,491,167 | 101.71% | 22 |
| Co-op | 1 | $1,195,000 | $1,200,000 | 100.42% | 63 |
| TIC | 19 | $1,313,053 | $1,341,105 | 102.14% | 36 |
| ALL * | 412 | $1,665,567 | $1,770,754 | 106.32% | 28 |
April 2019 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 70 | $3,964,047 | $4,135,713 | 104.33% | 28 |
| Single Family Under $2M | 146 | $1,215,129 | $1,368,076 | 112.59% | 24 |
| Condominium | 256 | $1,335,970 | $1,397,209 | 104.58% | 36 |
| Loft Condo | 18 | $1,042,100 | $1,103,323 | 105.87% | 36 |
| Co-op | 2 | $1,374,000 | $1,349,000 | 96.16% | 117 |
| TIC | 28 | $1,149,679 | $1,176,073 | 102.30% | 47 |
| ALL * | 565 | $1,649,742 | $1,786,541 | 108.29% | 34 |
March 2019 **
* 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.
