Last month's single family values were particularly strong, capturing the first double-digit median price gain since March, and reaching a 12-month high. Median days on market was relatively unchanged, at about two weeks. However, purchasers bid an average of 5% over list prices, versus 11% over in October 2015. Currently, there is just a 1.5 month supply of single family homes on the market. Condominium pricing also performed reasonably well, at 5%. Condominium inventory is running considerably higher, due in large-part to the roughly 1,000 new construction units currently on the market.
Nationally, GDP growth has shown considerable strength over the last three months, recording a 2.9% annualized growth rate. This is an improvement over the 1.4% growth rate in the second quarter.
MEDIAN SALES PRICE
MEDIAN NEIGHBORHOOD VALUES
Condominiums
Single Family Homes
TOP FIVE CONDOMINIUM SALES
This month, the top condo sale was at the Four Seasons Residences. Only 13 days on market, the 4,640 SF residence sold for an whopping $11,700,000. At $4,295,000, the next highest condo sale was a third of the cost.
TOP FIVE SALES-SINGLE FAMILY HOMES
Pacific and Presidio Heights dominated the top five sales this month, with the #1 spot being held by a 9,095 SF 7 bed, 7 bath home that sold for $21,800,000. This home, as are many top luxury properties, was on the market for a considerable number of days, 213 total for this Pacific Heights home.
With over 30 years experience, The Costa Group provides exemplary service from San Francisco to Marin County. Whether you're looking to buy or sell a Single Family Residence, Urban Dwelling, luxury Penthouse, Condominium, charming Victorian, Edwardian or Income Property, we can elevate your life and bring you home.
