What’s Happening In The Market? June Update

What's Happening In The Market?
June Update

Please note: this SFAR data is for May 2021

As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result.

New Listings were down 15.0 percent for single family homes and 27.6 percent for Condo/TIC/Coop properties. Pending Sales increased 85.8 percent for single family homes and 214.9 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 19.7 percent to $1,900,000 for single family homes and 12.8 percent to $1,227,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 53.8 percent for single family units and 47.8 percent for Condo/TIC/Coop units.

With such limited supply of existing homes to purchase, all eyes are on home builders to provide a much-needed boost of inventory to the market to help meet buyer demand. However, increasing material and labor costs, along with supply chain challenges, have contributed to significantly higher construction costs, with builders passing these costs on to homebuyers. And while the warmer temperatures, rising sales prices, and the reopening of the economy may draw more sellers to the market, historically low levels of homes for sale are likely to continue for some time.

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 May SFARMLS month over month data.

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ARDEN - UPPER FLOOR
Mission Bay Views
Bedrooms: 2 | Bathrooms: 2
Parking, Storage, Amenities
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MUSEUM PARC #404
Asking $718,000

Description:
Bedrooms: 1
Bathrooms: 1

*Photo shown is of the same unit on a higher floor*
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MUSEUM PARC 522
Asking $2,800/ month

Description:
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Bedrooms: 1
Bathrooms: 1

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MUSEUM PARC 906
COMING SOON

Description:
Fully Furnished
Bedrooms: 2
Bathrooms: 2

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MUSEUM PARC 424
Asking $2,800/ month

Description:
Bedrooms: 1
Bathrooms: 1.5

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Just Sold:

Arden 1405 - 2BR /2BA

Just Leased:

#808 – 1BR / 1BA
#1114 – 2BR / 2BA
#824 – 1BR / 1.5BA
Millennium 5E - 2BR / 2BA