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Although 2017 started a bit slowly, San Francisco has shown us, once again, that the real estate market here is unlike anywhere else. March, May, and June saw a healthy rebound from the year’s slow start. In recent months, the number of listings remains quite low, which generally drives up median selling prices. In fact, in May, single-family homes hit a new high with a median price of $1,501,675, and condos reached a new peak of $1,200,000. June figures were just a sliver behind. For the second time in the last three years, the number of pending sales exceeds that of new listings. So 2017 is continuing to be a year of HIGH DEMAND and LOW SUPPLY.
To produce reliable sales statistics, we need to examine the San Francisco market as two distinct components: Condos and single-family homes. Buyers and sellers should please review the information that is more relevant to their specific situation.
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SFH Med. Sales (June)
$1,470,000
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SFH Avg. Days on Mkt.
14
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SFH Mo. Supply of Inv.
1.2
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SFH % List Price Rec'd
114.6%
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