What’s Happening in the Market? October Update

What's Happening In The Market?
October Update

Please note: this SFAR data is for September 2022

The U.S. real estate market continues to slow as we move into fall, as rising consumer prices and higher mortgage interest rates squeeze homebuyer budgets and cool activity. With inflation showing little sign of abating, the Federal Reserve implemented another 75-basis-point hike in September, marking the third such rate increase this year. The cost of borrowing has reached multi-year highs on everything from credit cards to auto loans in 2022 as mortgage interest rates topped 6% for the first time since 2008, causing existing home sales to decline for the seventh consecutive month.

New Listings were down 13.2 percent for single family homes and 19.8 percent for Condo/TIC/Coop properties. Pending Sales decreased 38.2 percent for single family homes and 28.8 percent for Condo/TIC/Coop properties.

The Median Sales Price was down 5.7 percent to $1,650,000 for single family homes and 2.5 percent to $1,170,000 for Condo/TIC/Coop properties. Months Supply of Inventory increased 16.7 percent for single family units but remained flat for Condo/TIC/Coop units.

Affordability challenges have priced many buyers out of the market this year, and buyers who do succeed in purchasing a home are finding that the costs of homeownership have increased significantly, with monthly mortgage payments more than 55% higher than a year ago, according to the National Association of REALTORS®. Inventory remains lower than normal, and as the market continue to shift, experts project homes will begin to spend more days on market and price growth will slow in the months ahead.

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.

The Return to the office!
For Condo sales, interest rates continue to be an issue. Price per Square foot is lower. For the Rental market, the rents are rising as demand is strong for return to the office.

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 testimonials:


Museum Parc Condo
Yerba Buena
ASKING $1,275,000

$100K Price Improvement - Seller says sell! All offers will be considered!

Unique One of a Kind Garden Oasis!
Bedrooms: 2 / Bathrooms: 2
Architecturally Updated
~ 1472 Square Feet
Lush Courtyard Views
Lovely Wood Floors
Move In Ready!

Museum Parc Condo #516

ASKING $825,000

$25,000 Price Improvement

Bedrooms: 1 / Bathrooms: 1
Completely Updated
Extra Large Floor plan
Quiet Courtyard Views

Arden in Mission Bay

IN ESCROWDescription:
Bedrooms: 2, Bathrooms: 2
Square Feet: 1473 Approx

350 Broderick St #206
Available - $4800 / moDescription:
Bedrooms: 2 / Bathrooms: 2
2 Patios
Partially Furnished
Parking Available
NOPA Area. Panhandle area Parks, Grocery & Restaurants

Arden #319
Asking - $5700 / mo + ParkingDescription:
Bedrooms: 2 / Bathrooms: 2
+ Den
Patio, W/D, A/C

Museum Parc Penthouse Studio
Call for detailsDescription:
Bedrooms: 0 / Bathrooms: 1
14th Floor -City Views
Remodeled, 10' Ceiling

Museum Parc #609
xLarge Studio - Call for detailsDescription:
Bedrooms: 0 / Bathrooms: 1
Lush Garden Views
Updated Kitchen & Bath
Wood Floors
W/D in Unit
Large Walk-In Closet
Available: Nov 4th

Noe Valley
Single Family Home

For Sale or For Lease
Off Market
Bedrooms: 4 / Bathrooms: 3
Garage: 1 Car
Modern, High Tech Home
Open Floor Plan
Soaring Ceiling
Fenced, Flat Backyard
Available: Upon Request
Easy to Show

Museum Parc #712
Bedrooms: 1 / Bathrooms: 1
Wood Floors
Quiet Courtyard Views

Museum Parc Condo
SOLD in 5 days

Bedrooms: 0 / Bathrooms: 1
Panoramic Skyline View

Arden #214
$1,550,000 Buyer RepresentedDescription:

Bedrooms: 2 / Bathrooms: 2
Terrace, Parking & Storage

Millennium 5E
2 Bedrooms / 2 Bathrooms

1545 Franklin St
Bedrooms: 3-4
Bathrooms: 2.5