State of the Market – San Francisco and Peninsula November 2018

There are currently 1171 active homes for sale in San Francisco as of November 12, 2018 vs 1163 active homes the month prior.
Compared to the same period last year (2017), there were only 819 active homes which equals to 43% increase in inventory year over year.

In the month of October there were a total of 579 home sales vs 376 the month before.
Sold in October 2017 – 538.

The average days on the market in San Francisco was 26 days for the month of October 2018.

Average sale price for a Single Family Home in San Francisco in October of 2018 was $2,168,225
compared to September of 2018 – $1,832,477.
Average sale price for the Condo/Coop/TIC/Loft in San Francisco in October of 2018 was $1,348,944
compared to September of 2018 – $1,265,066.
Average sale price for 2-4 Units in San Francisco in October of 2018 was $2,238,338
compared to September of 2018 – $2,137,298.
Average sale price for 5+ units in San Francisco in October of 2018 was $6,790,000
compared to September of 2018 – $5,935,000.

Inventory of properties for sale in San Francisco as of November 12, 2018 = 1171
Single-Family Homes = 316
Condo/Coop/TIC/Loft = 618
2-4 Units = 168
5+ units = 69

Out of 244 Single Family Houses sold in San Francisco in October of 2018,
36 sold below asking price,
7 for asking price and
201 sold for over asking price.
35 for over $300,000,
13 for over $400,000,
9 for over $500,000,
5 for over $600,000,
1 for over $1,000,000

Example property sold over asking.

15 Park Hill Ave San Francisco CA 94117
5 – Buena Vista/Ashbury
3 bed
1.5 bath
2000 sqft
1921 built
2874 Lot Size

List price – $1,599,999
Sold Price – $2,620,000
Difference- $1,020,001

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.

November 2018 Peninsula/Silicon Valley Market Update

In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was 14 days vs 40 days one month prior with the average sale price $3,095,178.00 (in September was $2,401,833.00). Price Received was 6% more than asking price.
In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October ne was 10 days with the average sale price $1,914,215.00 (in September was $1,840,890.00). Price Received was 11% more than asking price.
In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was only 16 days with the average sale price $1,784,038.00 (in September was $2,070,712.00). Price Received was 8% MORE than asking price.
In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was only 15 days with the average sale price $2,012,968.00 (in September was $2,100,804.00). Price Received was 6% MORE than asking price.
In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was only 18 days with the average sale price $1,827,247.00 (in September was $1,718,044.00). Price Received was 7% MORE than asking price.
In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in October was 24 days with the average sale price $2,556,152.00. (in September was $2,309,066.00). Price Received was 3% 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 770 Active residential properties on market in San Mateo County – 212 properties with price decreased – almost %28!
San Mateo County Properties for sale with 60+ Days on Market rose to 25% 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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