The San Francisco market continued its steady pace through the first quarter of the year. Single family home values performed consistently, as compared to the first quarter of last year, while the number of transactions increased by 4%. Condominium values posted a healthy gain of 5% in the first quarter, compared to the same period last year. Overall, San Francisco real estate remains strong going into the spring selling season.
San Francisco Market Update-March 2017
The Costa Group-Just Sold & Pending Properties
San Francisco Residential Development Report-February 2017
San Francisco Market Update-February 2017
San Francisco single family home values continue to perform particularly well, with many neighborhoods seeing purchasers paying significantly over list prices. Median market time also improved, measuring at just 3 weeks, versus 4 weeks the year before.
There are 1,100 new condominiums on the market, as compared to just 450 units a year ago. Condominium appreciation will likely improve as the number of available condominiums is projected to decline by half, by the start of next year.
San Francisco Residential Development-December 2016
San Francisco Market Update-November 2016
Just Sold-October 2016
San Francisco Residential Development Report-September 2016
San Francisco Market Update - May 2016
The new San Francisco real estate market is shaping up to be a more measured version of the market seen last year. As an example, properties are taking about a week longer to sell than before, and the rate of appreciation has gone from double to single digit rates. Furthermore, the Months Supply of Inventory (MSI) has expanded to almost two months, versus the one month level seen last year.
There is, however, continued upward pressure on pricing. The most recent median sales price grew 8% year-over-year. Additionally, April's citywide median sales price is 15% higher, when compared to January's median. Strong economic fundamentals continue to propel property values upward. The City's unemployment rate is hovering around 3%, and the office vacancy rate measures around 5%, both at near record lows. With the prospect of oil prices stabilizing, the national economy appears to be on better ground. Reuters recently reported on the markets, stating that "First-quarter earnings for S&P 500 companies are mostly beating analysts' expectations".
Median Sale Price
April 2016 Median
Median Neighborhood Values
April's Top 5 Sales
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