What’s Happening in the Market – March 2020

What’s Happening In The Market?
March Update

Please note: this data is for February 2020

As we progressed through February, the actual and expected impacts of COVID- 19 continued to grow, with concerns of economic impact reaching the stock market in the last week of the month. As the stock market declined, so did mortgage rates, offering a bad news-good news situation. While short term declines in the stock market can sting, borrowers who lock in today’s low rates will benefit significantly in the long term.

New Listings were down 3.7 percent for single family homes and 1.3 percent for Condo/TIC/Coop properties. Pending Sales decreased 4.9 percent for single family homes but increased 1.8 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 7.3 percent to $1,610,000 for single family homes and 14.0 percent to $1,288,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 16.0 percent for single family units and 10.3 percent for Condo/TIC/Coop units.

The recently released January ShowingTime Showing Index® saw a 20.2 percent year-over-year increase in showing traffic nationwide. All regions of the country were up double digits from the year before, with the Midwest Region up 15.7 percent and the West Region up 34.1 percent. As showing activity is a leading indicator for future home sales, the 2020 housing market is off to a strong start, though it will be important to watch the spread of COVID-19 and its potential impacts to the overall economy in the coming months.

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 February 2020 SFAR Data (Data is for SFAR District 9 Month over Month). Supply and Demand continues to be an issue for February, but for the Rental Market, rents are rising as demand is strong. Property showings are being scheduled by appointment

Please call me any time for information about the neighborhood or current market conditions.

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COMING SOON!
SHOWN BY APPOINTMENT
MISSION BAY – ARDEN 1405
For Sale: $2,500,000718 Long Bridge St # 1405, San Francisco, CA 94158

Condo Features:
Bedrooms: 2
Bathrooms: 2
Square Footage: 1569
Parking: 1
Storage Locker: 1
Corner Unit with Stunning Sunset Views
Wood Floors
Air Conditioning
Automated Roller Shades
California Closets
Luxury Amenities

Available: May, 2020

Website: https://demo.ohpadmin.com/welcome/preview/18441
Building: www.ArdenInfo.com

SOUTH BEACH – LUMINA
For Sale: $1,400,000338 Main St., San Francisco, CA 94105

Condo Features:
Bedrooms: 1
Bathrooms: 1
Square Footage:  approximately
Valet Parking: 1
Wood Floors
Air Conditioning
Automated Roller Shades
California Closets
Luxury Amenities
5000 SqFt Fitness Center
In-Door Pool
Secure Building

Available: May, 2020

SOUTH BEACH – THE METROPOLITAN #1604
For Sale: $995,000355 1st St #1604, San Francisco, CA 94105

Condo Features:
Bedrooms: 1
Bathrooms: 1
Square Footage: 691
Parking: 1
Storage Locker: 1
East Facing, Water Views
Wood Floors
Air Conditioning
Luxury Amenities

Available: May, 2020

Lumina

338 Main Street
23rd Floor

Move In: April 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
Valet Parking
Museum Parc Condos
Yerba Buena
300 3rd St, #404

Move In: May 2020
www.MuseumParcCondos.com

Description:
Rent: $3400 / month
Bedrooms: 1
Bathrooms: 1
Wood Floors
In Unit Washer/Dryer
Secure   Building
Leased Parking Available: $310/month
Crunch Fitness & Heated Pool: Discounted Fee