San Francisco Housing Update August 2018

There are currently 706 active homes for sale in San Francisco as of August 3rd, 2018 vs 746 active homes the month prior…

Compared to the same period last year (2017), there were only 667 active homes which equals to 6% increase in inventory.

In the month of July there were a total of 488 home sales vs 525 the month before (Sold in July 2017 – 467).

Sales are slowing for the last three month in a row in SF…

Updated sales data (as of today – August 3rd 2018)

Sold in July 488

Expired in July 26

Withdrawn Cancel in July 107

Sold in June 586

Expired in June 34

Withdrawn Cancel in June 94

Sold in May 621

Expired in May 19

Withdrawn Cancel in May 76

Average sale price is slowing in SF for the last three month in a row…

Average sale price in July in Sf was $1,670,819 (in June, 2018 was $1,756,37 vs. May, 2018 of $1,761,604.)

The average sales price for July of 2017 was $1,600,943.

The average days on the market in San Francisco was 27 days for the month of July, 2018

and 26 days for the month of June,2018.

Average sale price for a Single Family Home in San Francisco in July of 2018 was $2,002,902

compared to June of 2018 – $1,963,902.

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in July of 2018 was $1,251,876 compared to June of 2018 – $1,365,770.

Average sale price for 2-4 Units in San Francisco in July of 2018 was $2,003,806

compared to June of 2018 – $2,233,138.

Average sale price for 5+ units in San Francisco in July of 2018 was $4,322,750

compared to June of 2018 – $4,539,821.

Inventory of properties for sale in San Francisco as of August 3rd, 2018 = 706

Single-Family Homes = 204

Condo/Coop/TIC/Loft = 348

2-4 Units = 103

5+ units = 51

As you are aware, the market has remained steady for some time now and continues to be a Sellers market.

There is currently about 1.5 month worth of inventory, meaning if there was not another home listed, it would take about ONE and HALF month for all the current homes on the market to sell. Once we reach 6 months of inventory, the market will turn to a Buyer market.

If you were thinking of selling your home in the near future, now is the time to do so to get the top dollar for your home before the market has a chance to turn.

If you have any questions or require any assistance please feel free to contact me at 415-385-8949 or email me at valkrysov@realtyfinancial.com.

Out of 186 Single Family Houses sold in San Francisco in July of 2018,

21 sold below asking price,

8 for asking price and

157 sold for over asking price.

35 for over $300,000,

19 for over $400,000,

9 for over $500,000,

6 for over $600,000,

2 for over than $700,000.

Example property sold over asking.

4118 20th St, San Francisco CA 94114

List price – $2,395,000

Sold Price – $3,150,000

Difference- $755,000

Reminder: As you know that I am in real estate sales and my passion is to bring buyers/sellers together. Who have you talked to in past couple days that might be thinking about buying/selling in San Francisco and/or in Silicon Valley or anywhere in the US/Canada (I am blessed to be a part of a huge network that I meet/talk-to on regular basis which is the backbone of my business that my clients benefit from).

#SFCityRealtor

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