What’s Happening in the Market – January 2020

January Update

Please note: this data is for December 2019

In 2019 home prices were up again in most markets. Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would normally be in a more balanced market. While up from their recent lows a few months ago, mortgage rates end the year close to three quarters of a percent lower than a year ago, helping to improve affordability and offset rising home prices.

New Listings were down 40.2 percent for single family homes and 45.1 percent for Condo/TIC/Coop properties. Pending Sales decreased 8.3 percent for single family homes but increased 3.4 percent for Condo/TIC/Coop properties.

The Median Sales Price was down 2.8 percent to $1,450,000 for single family homes but increased 4.2 percent to $1,219,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 33.3 percent for single family units and 25.0 percent for Condo/TIC/Coop units.

With low mortgage rates, low unemployment, and continued wage growth, home buyer activity is expected to remain healthy into the new year. New construction has been on the rise in 2019 and is expected to continue into 2020, but many experts note that the country is still not building enough new units to quench demand. It remains to be seen whether existing homeowners will be enticed to sell by higher home prices, which could finally bring the overall housing market into greater balance.

San Francisco Condo/TIC/Coop Activity Overview

District 9: Central East Activity Overview

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Sub-District 9 Statistics

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:

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SOLD in December for $2,700,000

CUPERTINO Single Family Home

Website: www.CupertinoGem.com

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

Museum Parc
300 3rd Street
6th Floor

Move In: Early February 2020

Description:
Rent: $3500 / month
Bedrooms: 1
Bathrooms: 1
Quiet Courtyard View
Updated Kitchen
In Unit Washer/Dryer
Secure Building
Leased Parking Available: $310/month
Crunch Fitness & Heated Pool: Discounted Fee

Museum Parc
300 3rd Street
8th Floor

Status: Coming Soon

Description:
Rent: $TBD / month
Bedrooms: 1
Bathrooms: 1
Facing Folsom St.
Balcony
Updated Kitchen
New Roller Shades
In Unit Washer/Dryer
Secure Building
Leased Parking Available: $310/month
Crunch Fitness & Heated Pool: Discounted Fee

Lumina
338 Main Street
23rd Floor

Move In: February 2020

Description:
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
Parking
CLIENT RECOMMENDATIONS
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
Our experience working with Jane on the recent sale of our home was exceptional. Jane has extensive knowledge of the San Francisco marketplace and has a deep network of both prospective buyers and peer professionals. She provided expert advice and displayed tenacity in helping us achieve an expedited closing at our target sales price. We recommend Jane without hesitation and would certainly use her to represent us on both the buying or selling end in the future.
– D & D