Living415

Sold: 1908 Leavenworth Street

Offered at $1,095,000
Sold for $1,130,000
Buyer Represented
 

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Two of my favorite colleagues weigh in on the way our market functions…

Local real estate experts Lamisse Droubi and Patrick Carlisle talk about factors that lead to bidding wars on homes in the San Francisco Bay Area.

Media: Katie Wood / SFGATE read more →

San Francisco Real Estate Market Update: July 2018

Two economic conditions currently in the U.S. may impact the Bay Area housing market. The first is the mounting trade wars with China, Europe, Mexico and Canada. The second is the rising interest rates, tightening monetary policy and converging yield curve, the latter of which has been a recession indicator in the past. At this point, housing sales are still strong but prices show some signs of weakening.

The number of new single family homes that came on the market in June was the lowest for that month in the past 10 years. With the number of sales not declining, inventory dropped to its lowest level for June in 10 years. This incredibly low inventory contributed to the highest overbid percentage ever on record in San Francisco – 119%.

Interestingly, prices fell for the fourth straight month but are still up 13% year-on-year.

Condo/loft/TIC prices dropped back a bit in June but are up 8.8% year-on-year. The number of condo sales year-to-date is the highest since 2014.

Single Family Homes:
The three-month rolling average median sales price of $1,629,815 is up 11% over last year’s.
Year-to-date, new listings are down 2.7% while sales are up 2.2%.
June’s inventory of 1.7 months is 18% lower than in 2017.
89% of homes sold over their list price.

Condo/Loft/TIC’s:
The three-month rolling average median sales price of $1,224,167 is up 8.8% over last year’s.
Year-to-date, new listings are up 2.9% while sales were up 8.2%.
June’s inventory of 2.1 months is 14% lower than in 2017.
69% of condo/loft/TIC’s sold over their list price and the median percent of list price received was 106%.

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Gary Keller on the Real Estate Industry – Yesterday Live in San Francisco

Wow. Gary Keller speaks his mind on the digitizing of the real estate industry. Super interesting insight.

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Sold: 75 Santa Marina Street

Offered at $799,000
Sold for $1,303,000
Buyer Represented
 

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Sold: 36 Dearborn Street

Offered at $1,049,000
Sold for $1,225,000
Seller Represented

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Sold: 57 Downey Street

Offered at $1,698,000
Sold for $2,250,000
Seller Represented

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How did your street get it’s name?

Did you ever wonder how the street you are strolling along got its name? I do all the time. In particular, I was just researching to write the copy for my new listing at 57 Downey Street, and I found this website: sfstreets.noahveltman.com

Check it out! read more →

Sold: 790 Teresita Blvd


Offered at $1,095,000
Sold for $1,510,500
Buyer Represented
Property Type: SFD
Bedrooms: 2
Bath: 1
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San Francisco Real Estate Market Update: June 2018

While May’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, it marked the third straight month of a lower median sold price. And yet the median price is still up 9.8% compared to May, 2017.

The number of new listings year-to-date is the lowest in three years while the number of sales is the highest in three years. So, to no one’s surprise, inventory is incredibly low, the lowest level since January, 2016.

The sold price per square foot reached a new all-time high for both single family homes, $1,009, and condo/loft/TIC’s, $1,141.

Condo/loft/TIC prices have gone up each of the past four months and have reached the highest point ever, $1,265,000.

Single Family Homes:
The three-month rolling average median sales price of $1,652,200 is up 17.9% over last year’s.

Year-to-date, new listings are down 4.9% while sales are up 2.0%.

May’s inventory of 1.6 months is 17% lower than in 2017. 85% of homes sold over their list price and the median percent of list price received was 118% in May.

Condo/Loft/TIC’s:
The three-month rolling average median sales price of $1,255,333 is up 10.8% over last year’s.

Year-to-date, new listings are down 1.9% while sales were up 11.7%.

May’s inventory of 2.2 months is 17% lower than in 2017.

69% of condo/loft/TIC’s sold over their list price and the median percent of list price received was 106% in May.

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