State of the Market – San Francisco and Peninsula December 2018

There are currently 915 active homes for sale in San Francisco as of December 4, 2018 vs 1171 active homes
the month prior.
Compared to the same period last year (2017), there were only 623 active homes which equals to 47%
increase in inventory year over year.

In the month of November there were a total of 503 home sales vs 579 the month before.
Sold in October 2017 – 517.

The average days on the market in San Francisco was 33 days for the month of November 2018.

Average sale price for a Single Family Home in San Francisco in November of 2018 was $1,871,413
compared to October of 2018 – $2,168,225.
Average sale price for the Condo/Coop/TIC/Loft in San Francisco in November of 2018 was $1,280,502
compared to October of 2018 – $1,348,944.
Average sale price for 2-4 Units in San Francisco in November of 2018 was $2,054,807
compared to October of 2018 – $2,238,338.
Average sale price for 5+ units in San Francisco in November of 2018 was $4,031,429
compared to October of 2018 – $6,790,000.

43% of Active properties on Market with 60+ DOM
17.5% of Active properties on Market with 90+ DOM
11% of Active properties on Market with 120+ DOM

Inventory of properties for sale in San Francisco as of December 4, 2018 = 914
Single-Family Homes = 254
Condo/Coop/TIC/Loft = 477
2-4 Units = 121
5+ units = 62

Out of 207 Single Family Houses sold in San Francisco in November of 2018,
36 sold below asking price,
16 for asking price and
155 sold for over asking price.
20 for over $300,000,
4 for over $400,000,
6 for over $500,000,
1 for over $600,000,
1 for over $900,000

Example property sold over asking.

1735 Lyon St San Francisco CA 94115
6 – Lower Pacific Height
4 bed
4 bath
4400 sqft
1902 built
4400 Lot Size

List price – $4,800,000
Sold Price – $5,750,000
Difference- $950,000

As you are aware, the market has remained steady for some time now and continues to be a Sellers
market.
There is currently about 2 month worth of inventory, meaning if there was not another home listed, it
would take about 2 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.

December 2018 Peninsula/Silicon Valley Market Update

In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 31 days vs 14 days one month prior with the average sale price $2,988,398.00 (in October was $3,095,178.00). Price Received was the same as an asking price.

In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October ne was 21 days with the average sale price $1,538,625.00 (in October was $1,914,215.00). Price Received was the same as an asking price.

In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was only 21 days with the average sale price $1,827,875.00 (in October was $1,784,038.00). Price Received was 2% MORE than asking price.

In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was only 29 days with the average sale price $1,938,684.00 (in October was $2,012,968.00). Price Received was 2% MORE than asking price.

In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was only 31 days with the average sale price $1,744,359.00 (in October was $1,827,247.00). Price Received was 4% MORE than asking price.

In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was 27 days with the average sale price $2,537,578.00. (in October was $2,556,152.00). Price Received was 5% MORE than asking price.

If you are thinking of selling anytime in the near future, now is the time to do so…
if you are a buyer, the great news is interest rates are still at all time lows and you have more options to choose from than we have seen in the past several years….
I hope you have found this information useful and please feel free to reach out to me anytime if you need anything!

From 551 Active residential properties on market in San Mateo County – 160 properties with price decreased – %29!
San Mateo County Properties for sale with 60+ Days on Market rose to 32% out of all Active Properties for sale…

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.

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).

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