We’re halfway through the year and it seems our collective attention has shifted from monitoring price and sales gains to eagerly anticipating more new listing activity on the part of sellers. This shift is the result of an imbalance between strong demand for homes and constrained supply. In some markets, purchase agreements are being written up directly after a showing. Your experience and local market conditions may differ, but the market analysis as a whole has summertime heat.
New Listings were up 20.1 percent for single family homes but decreased 5.1 percent for Condo/TIC/Coop properties. Pending Sales increased 6.5 percent for single family homes and 10.1 percent for Condo/TIC/Coop properties.
The Median Sales Price was up 35.6 percent to $1,055,000 for single family homes and 18.2 percent to $827,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 23.1 percent for single family units and 36.4 percent for Condo/TIC/Coop units.
Here are the latest statistics for Single Family Homes in May:
Here are the latest statistics for Condo/TIC/Coop in May:
Here are the Key Metrics for the districts of San Francisco:
If you are interested in San Francisco real estate or would like to know more about the market conditions, please contact Jane Hopkins!
Credit: SFAR