| Trends at a Glance | |||
| (Single-family Homes) | |||
| Jul 10 | Jun 10 | Jul 09 | |
| Home Sales: | 192 | 219 | 239 |
| Median Price: | $785,000 | $800,000 | $785,000 |
| Average Price: | $976,415 | $1,107,049 | $1,029,159 |
| Sale/List Price Ratio: | 100.7% | 99.2% | 98.4% |
| Days on Market: | 56 | 59 | 61 |
| (Lofts/Townhomes/TIC) | |||
| Jul 10 | Jun 10 | Jul 09 | |
| Condo Sales: | 193 | 227 | 213 |
| Median Price: | $660,000 | $690,000 | $619,655 |
| Average Price: | $725,663 | $756,894 | $714,616 |
| Sale/List Price Ratio: | 98.5% | 98.9% | 97.8% |
| Days on Market: | 74 | 72 | 85 |
Sales of both single-family, re-sale homes and condos fell in July with the expiration of the Federal tax credit.
Home sales were off 19.7% compared to last July, while condo/loft sales were down 9.4%. This is the first month home sales have been lower than the year before since last July. For condos/lofts, it's the first month since last August.
The new state tax credit has pumped a little life into the high-end market. Home sales were up in five of the top six most expensive areas of the city.
The high-end market has been helped by increasing access to jumbo and super-jumbo loans. Historically, and until July 2007, the spread or difference between conforming mortgage rates and jumbo rates moved within a narrow range of about 0.20%. At the trough of the market, the spread was 1.9%. Now, the spread is down to 0.5%, and the secondary market for jumbo loans is awakening.
The median price for homes was off 1.9% from June, but it was flat year-over-year. The average price fell 11.8% from June, and it was down 5.1% compared to last July.
The sales price to list price ratio for homes went back over 100%: 100.7%.
The median and average prices for condos were up 6.5% and 1.5% respectively year-over-year.
Leslie Appleton-Young, chief economist for the California Association of REALTORS® (C.A.R.), said, at a recent Silicon Valley Association of REALTORS® (SILVAR) meeting in Palo Alto last month, in five to ten years California will experience a housing shortage.
She said household growth for the state is expected to be 200,000 a year. The CBIA reports only 13,000 permits pulled in the first six months of the year.
Sales price to list price ratios for single-family homes rose 1.5 points to 100.7%. The ratio for condos/lofts lost 0.4 of a point to 98.5%.
The graph below shows the sales price to list price ratio as reported at sale compared to the sales price to original list price ratio.
The following chart shows the median price difference compared to the year before.
Days on market for homes dropped three to 56 days. For condo/lofts, days on market rose two days to 74 days.
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.
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.
| July Sales Statistics | |||||||||||
| (Single-family Homes) | |||||||||||
| Prices | Unit | Change from last year | Change from last month | ||||||||
| Median | Average | Sales | DOM | SP/LP | Median | Average | Sales | Median | Average | Sales | |
| San Francisco | $785,000 | $976,415 | 192 | 56 | 100.7% | 0.0% | -5.1% | -19.7% | -1.9% | -11.8% | -12.3% |
| D1: Northwest | $900,000 | $1,135,690 | 21 | 71 | 99.4% | -16.3% | -12.0% | 31.3% | -39.2% | -31.4% | -4.5% |
| D2: Central West | $697,500 | $704,599 | 35 | 45 | 102.2% | -8.5% | -7.6% | -18.6% | -4.7% | -8.1% | -14.6% |
| D3: Southwest | $493,500 | $527,714 | 14 | 92 | 98.6% | -22.8% | -26.1% | -17.6% | -18.1% | -24.2% | -26.3% |
| D4: Twin Peaks | $900,000 | $960,195 | 22 | 54 | 101.2% | 7.3% | 10.9% | 10.0% | -8.1% | -9.7% | -31.3% |
| D5: Central | $1,189,000 | $1,198,393 | 20 | 48 | 101.1% | -0.9% | -4.5% | -60.8% | 4.8% | -4.5% | -28.6% |
| D6: Central North | $1,216,000 | $1,247,000 | 6 | 86 | 97.0% | -36.7% | -35.1% | 200.0% | -35.5% | -29.0% | 0.0% |
| D7: North | $3,025,000 | $3,410,575 | 10 | 51 | 97.0% | -42.2% | -32.9% | 11.1% | 18.6% | -5.2% | -9.1% |
| D8: Northeast | $2,050,000 | $2,483,333 | 3 | 71 | 114.8% | n/a | n/a | n/a | -28.7% | -13.6% | 200.0% |
| D9: Central East | $835,000 | $867,791 | 21 | 50 | 100.9% | 2.5% | 0.6% | -16.0% | 10.6% | -4.6% | -12.5% |
| D10: Southeast | $470,000 | $480,493 | 40 | 51 | 103.1% | -10.4% | -3.7% | -28.6% | -3.7% | -3.4% | 14.3% |
| July Sales Statistics | |||||||||||
| (Condos/TICs/Co-ops/Lofts) | |||||||||||
| Prices | Unit | Change from last year | Change from last month | ||||||||
| Median | Average | Sales | DOM | SP/LP | Median | Average | Sales | Median | Average | Sales | |
| San Francisco | $660,000 | $725,663 | 193 | 74 | 98.5% | 6.5% | 1.5% | -9.4% | -4.3% | -4.1% | -15.0% |
| D1: Northwest | $675,000 | $666,955 | 11 | 72 | 99.4% | -3.4% | -3.9% | -42.1% | 17.4% | 6.3% | 22.2% |
| D2: Central West | $770,000 | $806,333 | 3 | 93 | 99.0% | 18.5% | 17.7% | 0.0% | 25.6% | 31.5% | 50.0% |
| D3: Southwest | $341,000 | $368,750 | 4 | 61 | 99.1% | -18.9% | -7.9% | 0.0% | 14.6% | 23.9% | 100.0% |
| D4: Twin Peaks | $405,000 | $464,167 | 3 | 116 | 98.6% | -44.9% | -32.6% | 0.0% | 1.3% | 20.8% | -40.0% |
| D5: Central | $765,000 | $782,528 | 27 | 54 | 100.6% | 5.9% | 15.4% | -43.8% | 0.0% | 0.0% | -41.3% |
| D6: Central North | $600,000 | $662,706 | 17 | 62 | 96.8% | -4.7% | 2.2% | -15.0% | -8.0% | 7.4% | -22.7% |
| D7: North | $815,000 | $913,372 | 23 | 58 | 99.4% | -8.4% | -19.4% | 0.0% | -37.3% | -28.8% | 9.5% |
| D8: Northeast | $697,000 | $856,375 | 36 | 92 | 97.0% | 11.5% | 7.7% | 71.4% | 2.5% | 14.5% | -16.3% |
| D9: Central East | $650,000 | $656,981 | 63 | 79 | 98.6% | 13.0% | 0.2% | -1.6% | 1.6% | -6.5% | -17.1% |
| D10: Southeast | $279,000 | $301,483 | 6 | 84 | 96.7% | -29.0% | -21.9% | -25.0% | -23.2% | -17.1% | 500.0% |
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