What’s Happening in the Market – February 2020

February Update

Please note: this data is for January 2020

For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4%,” the longterm NAR economist predicts. He is also expecting the new-home construction market sales to increase 10%. Yun and others would like to see home builders bring more affordable units to market to help ease shortages and slow price gains in that segment.

New Listings were down 33.9 percent for single family homes and 33.2 percent for Condo/TIC/Coop properties. Pending Sales increased 14.6 percent for single family homes and 26.4 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 5.3 percent to $1,462,500 for single family
homes and 13.7 percent to $1,182,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 33.3 percent for single family units and 21.4 percent for Condo/TIC/Coop units.

We start off the year with continued low interest rates, low unemployment, and rising rents nationally. These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market.

San Francisco Condo/TIC/Coop Activity Overview

District 9: Central East Activity Overview


Sub-District 9 Statistics

Supply and Demand continues to be an issue for 2020. Prices will continue to rise. For the rental market, demand is strong.

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SOLD in December for $2,700,000

CUPERTINO Single Family Home

Website: www.CupertinoGem.com

Bedrooms: 5 | Bathrooms: 3 + .5 Bath downstairs
Square Footage: 3242 Lot Size: 17,416 sf (.4 acres)
Quiet Cul de Sac
Cupertino Schools

338 Main Street
23rd Floor

Move In: February 2020

Rent: $5100 / month
Bedrooms: 1
Bathrooms: 1
Water Views
Wood Floors
Electric Blinds
Closet Organizers
In Unit Washer/Dryer
5000 SqFt Fitness Center
In-Door Pool
Secure Building
We've worked with Jane for nearly 2 years. She first helped us with finding a 1 bedroom apartment to rent in SoMa. Soon after she helped us buy our dream home in SoMa. She was very patient with us as we were first time home buyers. She guided us through the whole process in a gentle and professional manner until we were finally over the line and got our place last week. Jane is a consummate professional, loyal, honorable, ethical, a good communicator and has impeccable follow-through. Working with her is a no-brainer.
- K & A
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- D & D