18 May 2018

San Francisco Real Estate Market Update: May 2018

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April’s single family homes market in San Francisco was more of the same so far in 2018: fewer new listings and sales, and rising interest rates and sold prices. The rolling three-month median sold price for homes was up 25% over the same period last year. Condo/loft/TIC prices are also up, by 4.8%, outpacing the 3.6% Consumer Price Index rise for San Francisco.

Interest rates currently stand at approximately 4.5%, a 0.5% increase since December. So far, higher rates do not appear to have had a big impact on the market.

Single Family Homes:
The three-month rolling average median sales price of $1,679,167 is up 25% over last year’s.

Year-to-date, new listings are down 6.6% while sales are up 02.2%.

April’s inventory of 1.6 months is 30% lower than in 2017.

78% of homes sold over their list price and the median percent of list price received was 118% in April.

Condo/Loft/TIC’s:
The three-month rolling average median sales price of $1,195,167 is up 4.8% over last year’s.

Year-to-date, new listings are down 1.9% while sales were up 9.8%.

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

70% of homes sold over their list price and the median percent of list price received was 106% in April.

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