What’s Happening in the Market? October 2023 Update

What's Happening In The Market?
October Update

Please note: this SFAR data is for September 2023

National sales of existing homes recently fell to a 7-month low, as surging borrowing costs, rising sales prices, and limited inventory continue to keep many would-be buyers out of the market. Borrowers have become increasingly sensitive to fluctuations in mortgage rates, which have remained above 7% since mid-August. With fewer buyers able to afford the costs of homeownership, existing-home sales declined 0.7% month-over-month and were down 15.3% year-over-year, according to the National Association of REALTORS®(NAR).

New Listings were up 1.6 percent for single family homes but decreased 2.6 percent for Condo/TIC/Coop properties. Pending Sales increased 0.5 percent for single family homes but decreased 5.2 percent for Condo/TIC/Coop properties.

The Median Sales Price was down 4.1 percent to $1,582,500 for single family homes and 9.5 percent to $1,050,000 for Condo/TIC/Coop properties. Months Supply of Inventory increased 26.1 percent for single family units and 37.8 percent for Condo/TIC/Coop units.

Prices have continued to increase this fall despite softening home sales nationwide, as a lack of inventory has kept the market competitive for prospective buyers, sparking bidding wars and causing homes to sell for above asking price in some areas. Heading into September there were only 1.1 million units available for sale, 0.9% fewer than a month ago and 14.1% fewer than the same period last year, according to NAR. As a result, the U.S. median existing-home sales price rose 3.9% year-over-year to $407,100, marking the third consecutive month that the median sales price topped $400,000.

San Francisco Condo/TIC/Coop Activity Overview
District 9: Central East Activity Overview

Sub-District 9 Statistics

Based on September SFARMLS month over month data.

Heading into Fall!
For Condo sales, it's a buyer's market, interest rates continue to be an issue. Price per Square foot is lower. The rental market is active. Rents are stable as people are returning to the office.
Loan Tip: The seller can buy down the loan interest rate for the buyer!

Please call me any time for information about the neighborhood or current market conditions. My successful marketing plan has been raising property values over the years. Let’s make it work for you too.

  Read my most recent testimonial:  

When my husband and I decided to sell our condo (#1404) in the Arden we weren't sure what to expect in this market. Through Jane's hard work, diligence, experience, and expertise the condo sold within 3 weeks and over asking! We couldn't be happier! Having a Realtor who lives in the building is a big plus. The marketing plan for the condo including the website, photography and staging was very professional. Jane went above and beyond by finding temporary storage for some of our furniture and handling the inspections, moves, etc. Jane is willing to help out in any way that's needed and all with a smile. She is a joy to work with and we highly recommend her.
- John & Nyra -

Mission Bay

255 Berry Street

For Sale - Asking $1,399,000

Penthouse - 7th Floor Condo
Bedrooms: 2 / Bathrooms: 2
Square Feet: ~1285
High Ceilings
Spacious Living / Dining Area
1 Car Parking
Excellent Location
Pet Friendly

Museum Parc #602

For Sale - Asking $998,000

Bedrooms: 2 / Bathrooms: 2
Completely Updated
Wood floors, In-Unit Laundry
Bedrooms: Blackout Shades
Living Room: Electric Blinds

Museum Parc #501
Rarely AvailableFor Sale - Asking $1,025,000
Drop Dead Views!
Bedrooms: 2 / Bathrooms: 2
~ 1490 Square Feet
Dramatic City Views
Huge Entertainment Area
Easy to show!

Museum Parc 8th Floor

For Lease - Asking $3,300/mo

Large Floorplan
Bedrooms: 1 / Bathrooms: 1.5
Large Patio - City View
Updated Kitchen, Bath & Floors
Available Now

Museum Parc #1202

For Lease - Asking $4,500

12th Floor - Large Split Floor plan
Bedrooms: 2 / Bathrooms: 2
Large Patio - City View
Updated Kitchen,  Floors
Coming Early November


Museum Parc Condo - LEASED

Bedrooms: 1 / Bathrooms: 1

Lumina Water Views - LEASED

Bedrooms: 1 / Bathrooms: 1

Museum Parc Penthouse - LEASED

Bedrooms: 2 / Bathrooms: 2

Museum Parc - LEASED

3rd Floor
Bedrooms: 1 / Bathrooms: 1

255 Berry St - LEASED

Condo - #416
Bedrooms: 2 / Bathrooms: 2
+ Den


Bedrooms: 2 / Bathrooms: 2
+ Den
Aproximately 1388 SqFt


Bedrooms: 2, Bathrooms: 2
Approximately 1400 SqFt

701 Minnesota Condo - LEASED

Hip Dog Patch Area
Bedrooms: 2, Bathrooms: 1

Sharon Glen - LEASED

Prime Location
Bedrooms: 2, Bathrooms: 2
Approximately 1200 SqFt

Arden - LEASED

Bay Views from 718 Tower
Bedrooms: 2, Bathrooms: 2
Square Feet: 1400 Approx

Arden #1404
SOLD $2,185,000Description:
Bedrooms: 2, Bathrooms: 2
Square Feet: 1473 Approx