What’s Happening in the Market? March Update

What's Happening In The Market?
March Update

Please note: this SFAR data is for February 2022

The U.S. real estate market remains hot ahead of the spring selling season, with existing home sales up 6.7% as of last measure, according to the National Association of REALTORS®. Experts attribute the growth in sales to an uptick in mortgage interest rates, as buyers rushed to lock down their home purchases before rates move higher. Mortgage rates have increased almost a full percentage point since December, with the average 30-year fixed-rate mortgage briefly exceeding 4% in February, the highest level since May 2019.

New Listings were down 32.4 percent for single family homes and 26.5 percent for Condo/TIC/Coop properties. Pending Sales decreased 4.9 percent for single family homes and 25.5 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 17.9 percent to $1,945,000 for single family homes and 2.8 percent to $1,230,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 50.0 percent for single family units and 50.8 percent for Condo/TIC/Coop units.

Inventory was at an all-time low of 860,000 as February began, down 17% from a year ago and equivalent to 1.6 months supply. According to Lawrence Yun, Chief Economist at the National Association of REALTORS®, much of the current housing supply is concentrated at the upper end of the market, where inventory is increasing, while homes priced at the lower end of the market are quickly disappearing, leaving many first-time buyers behind. The shortage of homes is boosting demand even further, and with bidding wars common in many markets, it’s no surprise sales prices continue to soar.

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 SFARMLS month over month data.

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MUSEUM PARC - 5th Floor
COMING SOON - Call For DetailsDescription:
Bedrooms: 1 / Bathrooms: 1.5
Courtyard Views, Square Footage: ~1000

201 Harrison #908
COMING SOON - Call For DetailsDescription:
Bedrooms: 1 / Bathrooms: 1
Bridge Views, Parking, Amenities

1395-1397 18th Ave
San Francisco, CA

COMING SOON - Call For DetailsDescription:
2 Unit Building + Street Level Room & Bath ~ 2647Sqft
2 Full Floor Flats: 2 BRs, 1 BA. Living Room/Dining w/ Fireplace
1 Street Level Room & Bath are legal but warranted as a legal unit
Units Occupied (Do not disturb tenants)
Convenient to UCSF, Golden Gate Park, Shops, markets & restaurants
Inner Sunset District

75 Folsom “Hills Plaza” #1103
Fabulous, HOA Roof top Patio with Bridge Views
Available Now!
Description:
Bedrooms: 1 / Bathrooms: 1
City Views, W/D
Parking Available
Square Footage: ~ 1000

Arden - 3rd Floor
World Class Amenities
Showing Now
Asking $5500 / mo
Description:
Bedrooms: 2 / Bathrooms: 2
+ Den
City & Creek Views
Air Conditioning, Wood Floors, Gas Cooking, W/D, Outdoor Patio, Parking Additional

Museum Parc - 11th Floor
Available in April
Asking $3400 / mo
Description:
Bedrooms: 1 / Bathrooms: 1
Courtyard Views
Stunning Remodel
In Unit W/D
Square Footage: ~ 825

Museum Parc - 10th Floor
Available June 1
Call For Details
Description:
Bedrooms: 1 / Bathrooms: 1
Courtyard Views
Remodeled. Wood Floors
Square Footage: ~ 650

701 Minnesota St #103
Available May 1
Asking $4800 / mo
Description:
Bedrooms: 2 / Bathrooms: 1
Hip Dog Patch Area. EZ walk to UCSF, Uber, Chase Center
Courtyard Patio with Views
Loft Style Condo
Remodeled Kitchen & Bath
Wood floors
Small Dog Friendly – Dog Park across the street
In Unit W/D
Leased Parking

Millennium
301 Mission Street, San Francisco
Two Condos For Lease
2 Bedrooms / 2 Bathrooms – 1136 SqFt
Available July 1 - $5500 / mo

2 Bedrooms + Den (3rd BR) / 3 Bathrooms – 1845 SqFt
Available June 1 - $7200 / mo

Description:
Resort Style Amenities, Easy walk to Financial District/ Salesforce, Google, FB, Apple, Courtyard Views, In Unit W/D, Leased Parking