Below are charts for a handful of general market indicators for the San Francisco residential real estate market that update in real time, as reported to MLS.
Median sales price is that price at which half the sales occurred for more and half for less. It typically conceals a large variety of different prices in the underlying individual sales, and can also be affected by other factors besides changes in home values, such as seasonality and large changes in the distressed, luxury-home or new-construction segments of the market. Short-term fluctuations are much less meaningful than longer-term trends.
Percentage of Listings Selling over List Price
Large percentages of sales in which the price is bid up above asking price usually signifies spirited buyer competition for new listings. Before 2012, this percentage typically ran between 20% and 40% of sales. It has climbed to new heights in recent years. This is another statistic that is affected by seasonality: Higher percentages in spring and autumn, lower during the summer and winter holidays.
credit: paragon