In addition to the quandary of ongoing housing price increases and affordability concerns in many markets, the first quarter of 2019 saw a fair share of adverse weather as well.
New Listings were down 34.1 percent for single family homes and 26.9 percent for Condo/TIC/Coop properties. Pending Sales decreased 3.7 percent for single family hoess and 12.5 percent for Condo/TIC/Coop properties.
The Median Sales Price was down 2.2 percent to $1,650,000 for single family homes but remained flat at $1,250,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 9.5 percent for single family units and 11.5 percent for Condo/TIC/Coop units.
The Federal Reserve recently announced that no further interest rate hikes are planned for 2019.
San Francisco Condo/TIC/Coop Activity Overview
New Listings are down 20.2 percent
Median Sales Price was up .4 percent
Days on Market was up 11.1 percent
District 9: Central East Activity Overview
New Listings are down 21.6 percent
Median Sales Price is up 9.4 percent
Days on Market is up 3.4 percent
|FOR THE FULL REPORT - CLICK HERE!|
Sub-District 9 Statistics
Supply and Demand continues to be an issue into 2019. Median Sales Prices and Days on the Market (DOM) in District 9 are up slightly. For the rental market, the rents are rising as demand is strong. The chart below compares the city to our neighborhoods for condos/lofts. Based on the March 2019 SFARMLS data.
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 at:
Zillow or Yelp
Finally, check out Virgin's latest hotel here in SF – a “mix between San Francisco’s Victorian-era past, the city’s 1960s rock ’n’ roll appropriation of Victorian styling, and a 19th-century British feel.” SoMa's latest lodging offers a rooftop bar that is quite the spot to see ... and be seen. Read more about it in the SF Curbed article linked below.