San Francisco - April 2016 - Q1 Review

The Real Estate Update

Zephyr Real Estate  

Financial market volatility during the first quarter of 2016 brought interest rates down to the benefit of homeowners and buyers, but it also raised apprehension levels that sidelined some homebuyers and resulted in fewer sales. Home sales declined a modest 10.4% overall during Q1 2016 compared to Q1 2015, while prices remained steady.

Apprehension subsided in recent weeks and with the buying season upon us, it’s appropriate to review longer term trends. These trends reveal a slight movement from very seller favorable market conditions toward more balance. The available home supply, average selling time and the sold price as a percentage of asking price all moved in the direction of buyers.

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SFR Median Sales Price


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SFR Avg Days on Mkt


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Total Units Sold


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SFR % List Price Rcvd



Median Sales Price


Avg. Days on Market


# Units Sold


What does that mean?

Less heated, but still rather hot selling conditions that are offering more opportunities for buyers. The month’s supply of homes remains tight, and in March, 1.7 months and 2.2 months, respectively, would have been required to sell out all the single family homes and condominiums on the market. The comparable figures in March 2015 were 1.3 and 1.2 months. The average selling time in Q1 2016 rose by five days to 35 days from its low point in Q2 2015 and that, combined with added supply, appeared to reduce the above asking price ratio by about 5% to 108% of the asking price.
The most active neighborhood for total home sales in Q1 2016 was District 9 (South of Market-Potrero-Bernal Heights), while the highest priced neighborhood was District 7 (Marina-Pacific Heights) with a median sale price of $2.1 million. The $1.0 to $1.4 million price range captured the largest amount of sales during Q1 2016 at 284 or 34% of the total homes sold, virtually the same as Q1 2015. The most significant decline in sales by price range was in the $500,000 to $750,000 bracket, which lacks available inventory and saw sales fall from 170 in Q1 2015 to 102 in Q1 2016.


% List Price Received


Mo. Supply of Inventory


Units Sold By District


Price Tier Breakdown


Closer to Home

recent sales citywide


no sales reported for last 21 days


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Lauren O'Brien
CalBRE # 01775998


Data Source: San Francisco Association of Realtors Multiple Listing Service (SFAR MLS)