18 May 2018

San Francisco Real Estate Market Update: April 2018

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In spite of very rainy, wet weather, San Francisco buyers were buying in March, both single family homes and condominiums. The median sold price for homes eased off just a bit, from $1,700,000 to $1,687,500, while condos jumped from $1,094,000 to $1,250,000.

Likewise, the median sold price per square foot for a single family home eased off February’s record high and it was the condominium median sold price per square foot that hit a new high – $1,145.

Single Family Homes:
The three-month rolling average median sales price of $1,572,500 is up 21% over last year’s.

Year-to-date, new listings are down 11% while sales are up 0.26%.

March’s inventory of 1.5 months is 28% lower than in 2017.

79% of homes sold over their list price and the median percent of list price received was 117% in March.

Condo/Loft/TIC’s:
The three-month rolling average median sales price of $1,131,333 is up 2.2% over last year’s.

Year-to-date, new listings are down 6.9% while sales were up 4.8%.

March’s inventory of 1.9 months is 30% lower than in 2017.

59% of homes sold over their list price and the median percent of list price received was 102% in March.

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