San Francisco Real Estate Market Update – August 2018

Fortune Magazine’s recent article “The End is Near for the Economic Boom” is representative of the cautionary tone of a growing number of financial advisors, investors and economists that the expansionary economy we’ve had since 2009 is nearing its end.

Facebook’s dramatic 20% share price oneday drop (it’s still down over 17%) and Netflix’s 18% share price decrease may have injected further buyer caution in a market where prices were already showing signs of leveling off.

However, San Francisco home sales prices inched up, though condo sales prices were down slightly.

Single Family Homes:

The three-month rolling average median sales price of $1,627,925 is up 12.6% over last year’s.

Year-to-date, new listings are down 2.0% while sales are up 0.4%.

July’s inventory of 1.8 months is 16% lower than in 2017.

85% of homes sold over their list price and the median percent of list price received was 114%.

Condo/Loft/TIC’s:

The three-month rolling average median sales price of $1,193,611 is up 4.4% over last year’s.

Year-to-date, new listings are up 1.2% while sales are up 8.8%.

July’s inventory of 1.8 months is 17% lower than in 2017.

66% of condo/loft/TIC’s sold over their list price and the median percent of list price received was 105%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *