Statistical Tables | Scam Alert!

Home Prices Set New Highs

After reaching a new high in May, prices for single-family, re-sale homes  drifted lower over the following four months.

Then, in October, prices set new all-time highs again!

The median price for homes gained 13.2% over last October. That's the eighth month in a row the median price for homes has been higher than the year before.

The average price for homes was up 1.6% year-over-year.

The median price for condos was flat in October compared to last year, but was up 2.7% from September.

The average price for condos was up 1.7% over last October, and it was up 3.8% from September.

Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains at triple digits: 110.7% for homes and 105.7% for condos.

The ratio has been over 100% for homes since December 2012 and for condos since February 2012.

Home and condo sales zoomed last month. Home sales were up 39.2% from September, while condo sales rose 78.2%.

October Sales Statistics

Trends at a Glance
(Single-family Homes)
  Oct 17 Sep 17 Oct 16
Home Sales: 231 166 226
Median Price:  $1,588,000  $1,337,500  $1,402,500
Average Price:  $2,036,319  $1,633,856  $2,003,405
SP/LP: 110.7% 112.8% 105.9%
Days on Market: 22 28 27
(Lofts/Townhomes/TIC)
  Oct 17 Sep 17 Oct 16
Condo Sales: 303 170 233
Median Price:  $1,140,000  $1,109,500  $1,140,000
Average Price:  $1,283,170  $1,236,729  $1,262,069
SP/LP: 105.7% 104.4% 103.5%
Days on Market: 31 43 34
Sales momentum…

for homes rose 0.7 of a point to +8.8. Sales momentum for condos/lofts rose 3.8 points to –1.9.

Pricing momentum…

for single-family homes rose 0.3 of a point to +3.1. Pricing momentum for condos/lofts fell 0.3 of a point to +0.5.

Our momentum statistics are based on 12-month moving averages to eliminate monthly and seasonal variations.

This is an extraordinarily tough market for buyers. It's important to be calm and realistic. If you don't know what to do or where to begin, give me a call and let's discuss your situation and your options.

The graph below shows the median and average prices plus unit sales for homes.

The following chart shows the median price difference compared to the year before.

 

The graph below shows the median and average prices plus unit sales for condos/lofts.

The following chart shows the median price compared to the average price. The average price will always be more than the median price. The greater the difference, the more higher priced homes are being sold.

The real estate market is very hard to generalize. It is a market made up of many micro markets, especially in San Francisco. For complete information on a particular neighborhood or property, or for an evaluation of your home's worth, call me.

If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.

Monthly Statistics

Complete monthly sales statistics for San Francisco are below. Monthly graphs are available for each district in the city by clicking the links to the left.

October Sales Statistics
(Single-family Homes)
  Prices Unit     Yearly Change Monthly Change
  Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco  $1,588,000  $2,036,319 231 22 110.7% 13.2% 1.6% 2.2% 18.7% 24.6% 39.2%
D1: Northwest  $1,825,000  $2,409,568 21 19 112.6% 0.8% 13.9% 0.0% -24.4% -13.2% 162.5%
D2: Central West  $1,537,500  $1,618,933 30 19 118.1% 26.0% 21.7% -3.2% 10.1% 8.2% -21.1%
D3: Southwest  $1,015,000  $1,134,970 17 35 111.7% 23.8% 20.0% 30.8% -9.0% -7.2% 6.3%
D4: Twin Peaks  $1,650,000  $1,687,315 29 16 113.6% 10.8% 15.3% 0.0% 17.9% 9.2% 38.1%
D5: Central  $2,250,000  $2,487,900 37 23 108.7% 11.9% 12.7% 85.0% 24.8% 19.9% 131.3%
D6: Central North  $2,563,000  $2,746,000 6 11 118.3% -0.9% 6.2% 200.0% -13.1% -6.9% 500.0%
D7: North  $5,625,000  $5,853,333 15 26 101.4% 22.3% 14.3% 200.0% 60.7% -1.0% 200.0%
D8: Northeast  $3,147,500  $3,011,250 4 10 0.0% n/a n/a n/a -11.0% -7.7% 33.3%
D9: Central East  $1,652,500  $1,827,214 28 16 115.9% 22.4% 31.6% 21.7% 12.0% 15.1% 75.0%
D10: Southeast  $   956,000  $   987,701 44 30 114.7% 15.9% 17.1% 7.3% 9.3% 5.3% 7.3%

 

October Sales Statistics
(Condos/TICs/Co-ops/Lofts)
  Prices Unit     Yearly Change Monthly Change
  Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco  $1,140,000  $1,283,170 303 31 105.7% 0.0% 1.7% 30.0% 2.7% 3.8% 78.2%
D1: Northwest  $1,117,500  $1,243,150 20 31 110.9% -11.7% -6.0% 150.0% -20.2% -1.6% 566.7%
D2: Central West  $1,100,000  $1,033,000 3 40 102.5% 4.3% -2.1% -57.1% 28.3% 22.4% -25.0%
D3: Southwest  $   540,000  $   540,000 1 19 103.8% -50.6% -48.1% -80.0% n/a n/a n/a
D4: Twin Peaks  $   515,564  $   515,564 2 20 100.1% -33.7% -33.7% 0.0% -41.1% -48.1% -60.0%
D5: Central  $1,331,632  $1,361,698 54 20 112.1% 3.4% -2.6% 80.0% -7.2% 2.0% 217.6%
D6: Central North  $1,100,000  $1,165,667 15 21 113.9% 17.0% 11.7% -48.3% -19.3% -7.6% -31.8%
D7: North  $1,275,000  $1,747,193 29 17 106.0% 2.0% -9.7% 26.1% -6.3% -6.7% 107.1%
D8: Northeast  $1,100,000  $1,317,545 55 32 0.0% 8.6% -0.2% 37.5% -2.0% 2.0% 83.3%
D9: Central East  $1,099,000  $1,210,823 113 38 102.9% 13.9% 19.9% 50.7% 3.2% 7.0% 63.8%
D10: Southeast  $   738,050  $   789,910 10 30 102.4% 25.1% 43.5% 25.0% 18.0% 24.7% 233.3%

Scam Alert!

 

How home buyers are getting robbed of their down payments

A hot new scam targets home buyers: down payment wire fraud.

Hackers send bogus emails, telling buyers where to wire the down payment money. The stolen money disappears. The home buyer ends up with an empty bank account and a broken heart.

Hundreds of millions of dollars have been stolen this way. But you can avoid that fate by making one phone call. It’s that simple.

How the scam happens

Stacy Hennessey, a real-estate agent in Falls Church, Virginia, was targeted with this scam, but she didn’t fall for it. If you follow her example, you won’t get defrauded, either.

Hennessey was buying a house in Maryland. About a week before the scheduled closing, she received an email that appeared to be from her real-estate agent. The email told her that the instructions for wiring the down payment had changed, and it gave her an account number to which she should send $30,000.

Hennessey was suspicious for three reasons:

“They were asking me to wire an incorrect down payment amount, lower than it should have been,” she says. “Why would I wire a partial deposit?”

“And why would I be doing it now, several days before closing?” Usually, the down payment money is wired the day before closing.

The sender’s email address was almost, but not quite, her agent’s email address.

How to stop the scammers

Hennessey prevented crooks from stealing her $30,000 by making one call to her real-estate agent.

“I said, ‘Hey, did you send me this telling me to wire money?’ And they said, ‘No.’ And I said, ‘Your computer’s been hacked because they know that I’m a buyer, closing soon.’”

Had Hennessey followed the scammer’s instructions, she almost certainly would have lost the money. At the time, she didn’t even know whom she should have called if she had fallen for the scam.

To read the full story, go to this link: http://tinyurl.com/yc78fys8

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