San Francisco » MID-YEAR 2017

The Real Estate Update

Zephyr Real Estate  
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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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Median Sales Price

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% List Price Received: SFHs

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% List Price Received: Condos

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Condos vs. Single-family Homes

Condos:
Early in the year, several publications were predicting a slowdown in condo sales and prices. Based on the abundance of condos hitting the market and the decrease of pending sales, the forecast of an oversaturated market seemed reasonable. But this has NOT been the case. Pending sales of condos are similar to those of the last three years. Indeed, the ratio of sale price to list price in June was a robust 115.6%.

Single-Family Homes:
The ratio of sale price to list price is usually one of the major differences between the condo market and the single-family market. The ratio for single-family homes in June remained steady (at 114.6%), while the same figure for condos jumped from 102.7% to 115.6% from May to June! One month's data do not a trend make, but this is certainly a positive sign in the condo market. Stay tuned.

One thing is certain, the San Francisco Real Estate market is as active and exciting as ever. If early summer is any indicator, the rest of this year should be a fascinating and productive one!

 
 

New Listings vs. Pendings: SFHs

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New Listings vs. Pendings: Condos

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Average Days on Market: SFHs

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Average Days on Market: Condos

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Closer to Home

recent sales citywide

 
 
723 Foerster Street
San Francisco

$1,095,000

3BR / 2BA

Sold at $1,435,000

 
2534 45th Avenue
San Francisco

$1,295,000

4BR / 3.1BA

Sold at $1,850,008

 
555 4th Street
San Francisco

$1,299,000

2BR / 2.1BA

Sold at $1,250,000

 
 
 
3044 Franklin Street
San Francisco

$1,595,000

3BR / 2BA

Sold at $1,750,000

 
795 34th Avenue
San Francisco

$1,350,000

2BR / 2BA

Sold at $1,500,000

 
480 Kansas Street
San Francisco

$1,499,000

3BR / 2BA

Sold at $1,905,000

 
 
 
 

Newest Listings »

 
 

Recent Sales »

 
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Don Woolhouse
415.971.7766
dwoolhouse@zephyrsf.com
LIC# 00866643
Stefano DeZerega
415.987.7833
sdezerega@zephyrsf.com
LIC# 01730431

ZephyrRE.com

 
 

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