What’s Happening in the Market? April Update

What’s Happening in the Market? April Update

What’s Happening In The Market?
April Update

Please note: this SFAR data is for March 2022

Nationally, existing home sales recently dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down, declining 4.1% as of last measure, according to the National Association of REALTORS®. Builders are working hard to ramp up production—the U.S. Census Bureau reports housing starts are up 22.3% compared to a year ago—but higher construction costs and increasing sales prices continue to hamper new home sales, despite high demand for additional supply.

New Listings were down 25.9 percent for single family homes and 31.5 percent for Condo/TIC/Coop properties. Pending Sales decreased 2.1 percent for single family homes and 10.1 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 17.7 percent to $2,030,000 for single family homes and 0.3 percent to $1,225,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 46.4 percent for single family units and 44.6 percent for Condo/TIC/Coop units.

Across the country, consumers are feeling the bite of inflation and surging mortgage interest rates, which recently hit 4.6% in March, according to Freddie Mac, rising 1.4 percent since January and the highest rate in more than 3 years. Monthly payments have increased significantly compared to this time last year, and as housing affordability declines, an increasing number of would-be homebuyers are turning to the rental market, only to face similar challenges as rental prices skyrocket and vacancy rates remain at near-record low.

San Francisco Condo/TIC/Coop Activity Overview
District 9: Central East Activity Overview
FOR THE FULL REPORT – CLICK HERE!

Sub-District 9 Statistics

Based on March SFARMLS month over month data.

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San Francisco, CA

Call For Showing Schedule
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Description:
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Inner Sunset District

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Description:
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COMING SOON – Call For Details

Description:
Bedrooms: 1 / Bathrooms: 1
Bridge Views, Parking, Amenities

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COMING SOON – Call For Details

Description:
Bedrooms: 1 / Bathrooms: 1.5
Courtyard Views, Square Footage: ~1000

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301 Mission Street, San Francisco

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2 Bedrooms / 2 Bathrooms – 1136 SqFt
Available July 1 – $5500 / mo

2 Bedrooms + Den (3rd BR) / 3 Bathrooms – 1845 SqFt
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Description:
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World Class Amenities
Showing Now
Asking $5500 / mo

Description:
Bedrooms: 2 / Bathrooms: 2
+ Den
City & Creek Views
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Recently Leased:
75 Folsom “Hills Plaza” #1103

Description:
Bedrooms: 1 / Bathrooms: 1
City Views, W/D

Arden – 3rd Floor

Description:
Bedrooms: 2 / Bathrooms: 2
+ Den
City & Creek Views

Museum Parc – 11th Floor

Description:
Bedrooms: 1 / Bathrooms: 1
Courtyard Views

Museum Parc – 10th Floor

Description:
Bedrooms: 1 / Bathrooms: 1
Courtyard Views

701 Minnesota St #103

Description:
Bedrooms: 2 / Bathrooms: 1
Courtyard Patio with Views