While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers.
New Listings were down 3.4 percent for single family homes but increased 37.3 percent for Condo/TIC/Coop properties. Pending Sales increased 1.0 percent for single family homes but decreased 6.1 percent for Condo/TIC/Coop
The Median Sales Price was up 3.1 percent to $1,805,000 for single family homes but decreased 6.7 percent to $1,212,500 for Condo/TIC/Coop properties. Months Supply of Inventory increased 25.9 percent for single family units and 76.7 percent for Condo/TIC/Coop units.
While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.
San Francisco Condo/TIC/Coop Activity Overview
District 9: Central East Activity Overview