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SEPTEMBER 2020 Report – San Francisco Real Estate Market Update for August 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.
