Every month we take a look at the San Francisco real estate market. In September, the median sold price for single-family homes in San Francisco was $1,900,000. Up 15.2% from September 2020, this is short of the all-time high of $2,100,000 from three months earlier.
The number of homes sold dropped slightly this month to 193 while the number of new listings increased to 236, down 26.7% year-over-year. The SFH inventory remains very low, around 1.3 months. The median sold price per square foot is up 16.5% year-over-year at $1,156.
In the condo/loft/TIC market, the median sales price increased to $1,228,000 but is still short of this year’s high of $1,285,000 in June. The number of condo/loft/TIC sales was down 18.2% compared to last September, while the number of new listings was down 31.7%. Even with the year-over-year drop in listings, condo/loft/TIC inventory remains significantly higher than that of SFHs.
Subsequent data points in October indicate that the fall listing surge typical of the San Francisco real estate market is abating. This could be a good time to list with less competition from other sellers. As we head towards the holidays, the market tends to shift to favor buyers. Scroll down for the figures and charts. For more information on how this pertains to you and your next move, contact the Brown Real Estate Group today! Contact us