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January Real Estate Update (2016 recap)

February 08 2017
February 08 2017
By

SFR Median Sales Price: $1,350,000
SFR Avg. Days on Market: 36
Total Units Sold: 1301
SFR % List Price Received: 108%

Our monthly Real Estate Insights monitors sales trends which are essential to staying on top of the market. Our Quarterly Review, highlighting trends from the past three years, allows us to both understand the current market in a broader context and gives us a sense of where it is headed. With this in mind, our Quarterly Review shows home sales continue the trend we have seen in previous quarters, with fewer sales than last year but a better balance between buyers and sellers. Though we saw a slight increase in inventory, there was still reluctance among sellers to reduce prices, causing the pace of sales to slow. At the same time, the more cautious homebuyer participating in this market was less likely to engage in a bidding war. This trend continues to show the leveling market.

Median Sales Price

Reviewing the Numbers and Looking Ahead

Reviewing the numbers, the increase in median sales price for single-family homes rose 8% when comparing Q4 2015 to Q4 2016. Signaling the leveling market, there was an 11% increase when comparing Q4 2014 to Q4 2015 and 20% increase when comparing Q4 2013 to Q4 2014. Condominiums did see a decrease in median sales price between Q4 2015 and Q4 2016, with a 3% decline. As signs of leveling continue to show, increase in median sales price for both single-family homes and condominiums over the three year period indicates San Francisco remains a robust housing market.

Average Days on Market

Average Days on Market

# Unites Sold

Units Sold

Looking ahead: the recent increase in mortgage rates covered in our last newsletter, along with uncertainty around the new administration, may lead to a softer first quarter than previous years. San Francisco is one of the strongest housing markets in the country and will continue to demonstrate that throughout 2017.

% List Price Received

List Price Received

Month's Supply of Inventory

Months Supply of Inventory

Units Sold by District

Units Sold by District

Median Sale Price by District

Median Sale Price by District


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