San Francisco continued to experience strong buyer demand in November for both single-family homes and condo/loft/TICs, with the number of sold transactions up 33.3% and 29%, respectively.
San Francisco single-family home buyers are snapping up properties and keeping purchase prices high, with the median sold price up to $1,655,000. This is 3.4% higher than last November. Condo/loft/TIC sales were also strong, though prices fell by 6.9% this month. The median sales price for condo/loft/TIC for November was $1,187,000. This is notably below November 2018’s median sold price of $1,200,000.
The market may be cooling a bit as evidenced by the drop in the percentage of overbids. The single-family home median sold price was 104.6% of list price, whereas in the past two Novembers the percentages were 112.0% and 111.7%.
Our boots on the ground have seen strong buyer activity over the last few weeks. The recent reinstitution of the health and safety shut-downs in the Bay Area seem unlikely to dampen purchasing activity. The reduced holiday travel may even help keep activity strong as buyers remain in town to shop for homes. If you are thinking about buying or selling, contact us today or leave a comment below!