Prices and Sales Continue to Drop
The median sales price for single-family, re-sale was up 4.9% in December from November. It was down 6.9% year-over-year
The average sales price for single-family, re-sale homes was down 2.1% month-over-month. Year-over-year, it was down 21.8%.
Sales of single-family, re-sale homes fell 27.3% year-over-year. Sales were down 19.6% from November. There were 144 homes sold in San Francisco last month. The average since 2000 is 214.
The median sales price for condos/lofts was down 24.8% year-over-year.
The average sales price was down 24.8% year-over-year.
Sales of condos/lofts fell 54.9% year-over-year. There were 139 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, fell from 102.3% to 101.4% for homes. The ratio for condos/townhomes fell from 98.6% to 97.3%
Average days on market, or the time from when a property is listed to when it goes into contract, was 38 for homes and 73 for condos/lofts.
for homes stayed at –26.4. Sales momentum for condos/lofts was down 6.7 points to –44.6.
for single-family homes fell one point to –1.7. Pricing momentum for condos/lofts fell 3.6 points to –4.2.
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.
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.
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