The best job market in five years and very low-interest rates are both contributing to keeping home and condominium sales prices steady in San Francisco.
San Francisco’s single-family home median sales prices are down just slightly from a year ago. Condominium prices are flat.
Days on market has risen somewhat – 14% – for single-family homes but are unchanged for condominiums.
Months of inventory remains exceptionally low and selling prices are still above list price, but significantly less so than last year.
The lack of inventory is also contributing to propping up sales prices. It’s down 23% from 2018 for single family homes and 20% for condominiums.
|Summary of the Numbers – May 2019*||Single Family Residences (SFR)||% Change Year-over-Year||Condo/Loft /TICs||% Change Year-over-Year|
|Median Sales Price||$1,539,833||-2.6%||$1,166,981||0.40%|
|Median Days on Market (DOM)||16||14%||24||0.0%|
|Months of Inventory||2.1||16%||2.6||5.5%|
|Percent of Homes Sold Over List Price||75%||-6.4%||52%||-6.5%|
|Median Percent of List Price Received||110%||-4.4%||100%||-1.1%|
|New Listings (#)||193||-23%||288||-20%|
|Homes Sold (#)||167||0.6%||241||-6.8%|
|Median Sold $/Square Foot||$965||-2.0%||$1,093||0.6%|
*Based on a 3-month rolling average