What’s Happening in the Market? December Update

What's Happening In The Market?
December Update

Please note: this SFAR data is for November 2022

Housing affordability continues to be a major roadblock for market participants, with mortgage rates more than double compared to this time last year. Buyers are delaying home purchases in hopes rates will drop, while many sellers are holding off on listing their homes due to weakening buyer demand, unwilling to trade in their current lower rates for significantly higher borrowing costs on their next property. As a result, existing-home and pending home sales have continued to slow as we move into winter.

New Listings were down 12.3 percent for single family homes and 41.9 percent for Condo/TIC/Coop properties. Pending Sales decreased 31.7 percent for single family homes and 49.2 percent for Condo/TIC/Coop properties.

The Median Sales Price was down 20.2 percent to $1,500,000 for single family homes and 8.9 percent to $1,148,000 for Condo/TIC/Coop properties. Months Supply of Inventory increased 21.4 percent for single family units and 6.9 percent for Condo/TIC/Coop units.

With home sales down, nationwide housing inventory was at 3.3 months’ supply heading into November, up from 2.4 months from this time last year, according to the National Association of REALTORS®. Although buyers have more options to choose from, home prices remain high, and soaring borrowing costs have caused monthly payments to increase significantly, with the average homebuyer paying 77% more on their loan per month compared to the same period a year ago, according to Realtor.com.

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

Sub-District 9 Statistics

Based on November SFARMLS month over month data.

Winter is a great time to buy!
For Condo sales, interest rates continue to be an issue. 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 most recent testimonial:  

When my husband and I decided to sell our condo (#1404) in the Arden we weren't sure what to expect in this market. Through Jane's hard work, diligence, experience, and expertise the condo sold within 3 weeks and over asking! We couldn't be happier! Having a Realtor who lives in the building is a big plus. The marketing plan for the condo including the website, photography and staging was very professional. Jane went above and beyond by finding temporary storage for some of our furniture and handling the inspections, moves, etc. Jane is willing to help out in any way that's needed and all with a smile. She is a joy to work with and we highly recommend her.
- John & Nyra -
Museum Parc Condo
Yerba Buena
For Sale: $1,275,000
For Lease: $4595 / mo

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!

Noe Valley Single Family Home

Call for Details


Bedrooms: 4 / Bathrooms: 3
Garage: 1 Car
Modern, High Tech Home
Open Floor Plan
Soaring Ceiling
Fenced, Flat Backyard
Available: Upon Request
Easy to Show

Woodside Elegant View Home

Call for Details


Bay Views
Lot size: 1 Acre
Square Feet: 5000
Gated, Secure Property
Garage: 3 Car
Open Floor Plan
Soaring Ceiling
Fenced, Flat Backyard
Available: Upon Request
Easy to Show

Arden Condo

For Sale: $2,175,000
For Lease: $7,500 / mo

Available February 2023

Bedrooms: 2 \ Bathrooms 2 Suites
Size: approximately 1473 SqFt
Hardwood Floors in Bedrooms
EV Parking Space, Large Storage

Menlo Park - Sharon Heights

Condo for Lease - $3950 / mo

Available 1/10/2023
2361 Sharon Rd., Menlo Park, CA 94025

Prime Location
Bedrooms: 2, Bathrooms: 2
Approximately 1200 SqFt
Garage Parking
Central AC/Heat, Large Balcony, Community Pool & Coin Operated W/Ds
Rent includes: Water, Garbage
1 Year Lease
Shopping: 5 minute walk
Elementary/Middle Schools: 10 minute walk
Menlo-Atherton High School
Stanford University & Driving Range
Stanford Hills Park

Museum Parc Condo #516
Bedrooms: 1 / Bathrooms: 1
Arden #1404
SOLD $2,185,000
Bedrooms: 2, Bathrooms: 2
Square Feet: 1473 Approx
350 Broderick St

Bedrooms: 2 / Bathrooms: 2
Arden #319
Bedrooms: 2 / Bathrooms: 2
Museum Parc Penthouse Studio
Bedrooms: 0 / Bathrooms: 1
14th Floor -City Views