State of the Market – San Francisco and Peninsula October 2018

There are currently 1163 active homes for sale in San Francisco as of October 9, 2018 vs 949 active homes the month prior – which is %23 more than the month before.

Compared to the same period last year (2017), there were only 895 active homes which equals to 30% increase in inventory year over year.

In the month of September there were a total of 376 home sales vs 473 the month before (Sold in September 2017 – 378).

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

Sold in September 376
Expired in September 40
Withdrawn Cancel in September 87

Sold in August 473
Expired in August 53
Withdrawn Cancel in August 100

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Withdrawn Cancel in July 107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Withdrawn Cancel in June 94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Withdrawn Cancel in May 76

The average days on the market in San Francisco was 30 days for the month of September 2018.

Average sale price for a Single Family Home in San Francisco in September of 2018 was $1,832,477 compared to August of 2018 – $1,847,862.

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in September of 2018 was $1,265,066 compared to August of 2018 – $1,335,421.

Average sale price for 2-4 Units in San Francisco in September of 2018 was $2,137,298 compared to August of 2018 – $2,288,625.

Average sale price for 5+ units in San Francisco in September of 2018 was $5,935,000
compared to August of 2018 – $4,278,900.

San Francisco Properties for sale with 60 – 120 Days on Market rose to 12% out of all Active Properties for sale (11% last month)…

Inventory of properties for sale in San Francisco as of October 10, 2018 = 1163
Single-Family Homes = 341
Condo/Coop/TIC/Loft = 601
2-4 Units = 159
5+ units = 62

As you are aware, the market has remained steady for some time now and continues to be a Sellers
market.
There is currently about 3 month worth of inventory, meaning if there was not another home listed, it would take about 3 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 146 Single Family Houses sold in San Francisco in September of 2018,
19 sold below asking price,
7 for asking price and
150 sold for over asking price.
27 for over $300,000,
17 for over $400,000,
4 for over $500,000.

Example property sold over asking.
115 Nevada St San Francisco CA 94110
List price – $995,000
Sold Price – $1,550,000
Difference- $555,000

October 2018 Peninsula/Silicon Valley Market Update
In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in September was 40 days vs 14 days one month prior with the average sale price $2,401,833.00 (in August was $2,638,639.00). Price Received was 4% more than asking price.

In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in September ne was 14 days with the average sale price $1,840,890.00 (in August was $$2,149,222.00). Price Received was 7% more than asking price.

In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in September was only 11 days with the average sale price $2,070,712.00 (in August was $1,885,850.00). Price Received was 11% MORE than asking price.

In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in September was only 16 days with the average sale price $2,100,804.00 (in August was $1,983,669.00). Price Received was 9% MORE than asking price.

In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in September was only 20 days with the average sale price $1,718,044.00 (in August was $1,798,647.00). Price Received was 8% MORE than asking price.

In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in September was 20 days with the average sale price $2,190,785.00. (in August was $2,309,066.00). 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 747 Active properties on market in San Mateo County – 183 properties with price decreased – almost %25!

San Mateo County Properties for sale with 60+ Days on Market rose to 23% out of all Active Properties for sale…

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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