What’s Happening in the Market? Janaury Update

What's Happening In The Market?
January Update

Please note: this SFAR data is for December 2021

The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often for well above asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic.

New Listings were down 62.8 percent for single family homes and 55.1 percent for Condo/TIC/Coop properties. Pending Sales decreased 38.5 percent for single family homes and 31.9 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 8.4 percent to $1,680,000 for single family homes and 17.2 percent to $1,289,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 67.9 percent for single family units and 68.3 percent for Condo/TIC/Coop units.

Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers.

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 December SFARMLS month over month data.

Good News! Relocation companies are back with clients!
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MUSEUM PARC #720

Asking $1,175,000

www.3003rdSt-720.com
Description:
City Views
Bedrooms: 2 / Bathrooms: 2
Updated
Square Footage: ~1254
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MUSEUM PARC #615

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Description:
Quiet Courtyard
Bedrooms: 1
Bathrooms: 1

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MUSEUM PARC #719

Available Now!
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Description:
City Views
Complete Remodel
Electric Blinds
SqFt: ~ 1433
Bedrooms: 2 / Bathrooms: 2
W/D

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75 Folsom “Hills Plaza” #1103

Fabulous, HOA Roof top Patio with Bridge Views
Available Now!

Description:
City Views
SqFt: ~ 1000
Bedrooms: 1 / Bathrooms: 1
W/D
Parking Available

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Lumina - 23rd Floor
World Class Amenities
Description:
Bridge & Water Views
5 Years Young
Wood Floors, Electric Blinds, A/C
SqFt: ~ 900
Bedrooms: 1 / Bathrooms: 1
W/D
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Just Sold:

ARDEN #506
SOLD
$1,763,000
ARDEN #1001
SOLD

$1,726,000 

ARDEN #1204
SOLD
$2,175,000
MUSEUM PARC #404
SOLD
$719,000 
Recently Leased:

MUSEUM PARC #602

Description:
Total Remodel
City Views
Bedrooms: 2 Bathrooms: 2

MUSEUM PARC #1207

Description:
Quiet Courtyard
Bedrooms: 1
Bathrooms: 1.5

LUMINA #17D

Description:
Bedrooms: 1
Bathrooms: 1