What’s Happening in the Market? August Update

What's Happening In The Market?
August Update

Please note: this SFAR data is for July 2022

The U.S. housing market has continued to cool, as rising mortgage rates and record-high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income has failed to keep pace with increasing mortgage payments, with the costs of buying a home about 80% more expensive now than they were just three summers ago, according to the National Association of REALTORS® (NAR). As more and more prospective buyers find their home purchase plans delayed, many are turning to the rental market, where competition has intensified due to increased demand.

New Listings were down 44.1 percent for single family homes and 40.8 percent for Condo/TIC/Coop properties. Pending Sales decreased 31.3 percent for single family homes and 42.9 percent for Condo/TIC/Coop properties.

The Median Sales Price was down 9.7 percent to $1,670,000 for single family homes and 0.8 percent to $1,200,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 32.0 percent for single family units and 17.5 percent for Condo/TIC/Coop units.

At a time of year when homebuying activity is typically very strong, soaring homeownership costs have caused home sales to decline nationwide for the fifth consecutive month, with existing-home sales falling 5.4% month-to-month and 14.2% year-over-year as of last measure, according to NAR. But there is a bright spot. Inventory of existing homes has continued to climb this summer, with 1.26 million homes available at the beginning of July, equivalent to a 3 months’ supply. And despite the summer slowdown, homes are still selling quickly, with the typical home staying on market an average of 14 days.

San Francisco Condo/TIC/Coop Activity Overview
District 9: Central East Activity Overview

Sub-District 9 Statistics

Based on July SFARMLS month over month data.

The Return to the office!
For Condo sales, Supply and Demand continues to be an issue for the Summer. Price per Square foot is lower. For the Rental market, the rents are rising as demand is strong for return to the office.

Please call me any time for information about the neighborhood or current market conditions. My successful marketing plan has been raising property values over the years. Let’s make it work for you too.

Read my testimonials:


Museum Parc Condo
Yerba Buena

FOR SALE $1,375,000

Unique One of a Kind Garden Oasis!
Bedrooms: 2 / Bathrooms: 2
Architecturally Updated
~ 1472 Square Feet
Lush Courtyard Views
Lovely Wood Floors
Move In Ready!

Museum Parc Condo #516


Bedrooms: 1 / Bathrooms: 1
Completely Updated
Extra Large Floor plan
Quiet Courtyard Views


1395-1397 18th Ave
San Francisco, CA

Call For Showing Schedule

Middle & Ground floor delivered vacant
2 Unit Building + Street Level Room & Bath ~ 2647 Sqft
2 Full Floor Flats: 2 BRs, 1 BA. Living Room/Dining w/ Fireplace
1 Street Level Room & Bath are legal but warranted
Units Occupied (Do not disturb tenants)
Convenient to UCSF, Golden Gate Park, Shops, markets & restaurants
Inner Sunset District

350 Broderick St #206
Available - $5200 / mo
Bedrooms: 2 / Bathrooms: 2
2 Patios
Partially Furnished
Parking Available
NOPA Area. Panhandle area Parks, Grocery & Restaurants
Museum Parc Condo
SOLD in 5 days

Bedrooms: 0 / Bathrooms: 1
Panoramic Skyline View

Arden #214
$1,550,000 Buyer RepresentedDescription:

Bedrooms: 2 / Bathrooms: 2
Terrace, Parking & Storage

Millennium 5E
2 Bedrooms / 2 Bathrooms
1545 Franklin St
Bedrooms: 3-4
Bathrooms: 2.5
355 1ST St #2004
Bedrooms: 1 / Bathrooms: 1