San Francisco and Marin County Q1 Report 2024

San Francisco and Marin County Q1 Report 2024

  • Jeff Marples
  • 05/21/24

San Francisco Home Prices & Sales Up in April

 

The median sales price for single-family, re-sale rose 2.9% in April from March. It was up 13.1% year-over-year.

The average sales price for single-family, re-sale homes was up 10.2% month-over-month. Year-over-year, it was up 11.5%.

Sales of single-family, re-sale homes rose 27.9% year-over-year. There were 211 homes sold in San Francisco last month. The average since 2000 is 214.

The median sales price for condos/lofts was down 7.9% year-over-year.

The average sales price was down 8.5% year-over-year.

Sales of condos/lofts fell 10% year-over-year. There were 189 condos/lofts sold last month. The average since 2000 is 230.

The sales price to list price ratio, or what buyers are paying over what sellers are asking, rose from 107.4% to 107.5% for homes. The ratio for condos/townhomes fell from 100.9% to 100.7%.

Average days on market, or the time from when a property is listed to when it goes into contract, was 22 for homes and 57 for condos/lofts.

Momentum Statistics

Sales momentum…
for homes rose from –14.9 to –7.9. Sales momentum for condos/lofts was down 6.4 points to –26.

Pricing momentum…
for single-family homes rose 3.7 points to –2.7. Pricing momentum for condos/lofts rose 0.5 of a point to –1.5.

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

If you are planning on selling your property, call me for a free comparative market analysis. 

We calculate…

momentum by using a 12-month moving average to eliminate seasonality. By comparing this year's 12-month moving average to last year's, we get a percentage showing market momentum.  

In the chart below…

the blue area shows momentum for home sales while the red line shows momentum for pending sales of single-family, re-sale homes. The purple line shows momentum for the average price.

 

As you can see, pricing momentum has an inverse relationship to sales momentum.

 

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

 

 

Remember, the real estate market is a matter of neighborhoods and houses. No two are the same. For complete information on a particular neighborhood or property, call me at 415.336.9695

 

 

 

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

 

 

 

Marin Home Prices & Sales Up

 


  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Apr. 24 Mar. 24 % Change Apr. 24 Apr. 23 % Change Feb. 24 to Apr. 24 Feb. 23 to Apr. 23 % Change
For Sale 405 301 34.6% up 405 306 32.4% up 405 306 32.4% up
New Listing 205 222 -7.7% down 205 230 -10.9% down 641 667 -3.9% down
Sold 191 145 31.7% up 191 193 -1% down 429 454 -5.5% down
Pended 211 205 2.9% up 211 203 3.9% up 529 529 0%    
 
TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  5/1/24 - 5/13/24 4/1/24 - 4/13/24 % Change 5/1/24 - 5/13/24 5/1/23 - 5/13/23 % Change 1/1/24 - 5/13/24 1/1/23 - 5/13/23 % Change
For Sale 431 353 22.1% up 431 349 23.5% up 431 349 23.5% up
New Listing 73 91 -19.8% down 73 106 -31.1% down 913 904 1% up
Sold 77 76 1.3% up 77 94 -18.1% down 592 611 -3.1% down
Pended 115 72 59.7% up 115 98 17.3% up 729 722 1% up
 Data Table


 

 

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, call me at 415.336.9695

 

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

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