State of the Market – San Francisco and Peninsula September 2018

Dear friends,

As part of my ongoing intensive research I would like to share with you my latest statistics on San Francisco real estate.

SF Market is in significant shift now..

There are currently 949 active homes for sale in San Francisco as of September 10, 2018 vs 706 active homes the month prior – which is %35 more than the month before. Compared to the same period last year (2017), there were only 614 active homes which equals to 55% increase in inventory.
In the month of August there were a total of 473 home sales vs 488 the month before (Sold in August 2017 – 440).
Sales are slowing for the last FOUR month in a row in SF…
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Withdrawn Cancel in August 100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Withdrawn Cancel in July 107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Withdrawn Cancel in June 94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Withdrawn Cancel in May 76

Average sale price is slowing in SF for the last FOUR month in a row…
Average sale price in August was $1,660,398, in July in Sf was $1,670,819 (in June was $1,756,37 vs. May of $1,761,604.)
The average sales price for August of 2017 was $1,560,864 (in August of 2016 was $1,488,804).
The average days on the market in San Francisco was 30 days for the month of August, 2018 and 27 days for the month of July, 2018.
Average sale price for a Single Family Home in San Francisco in August of 2018 was $1,847,862 compared to July of 2018 – $2,002,902.
Average sale price for the Condo/Coop/TIC/Loft in San Francisco in August of 2018 was $1,335,421 compared to July of 2018 – $1,251,876.
Average sale price for 2-4 Units in San Francisco in August of 2018 was $2,288,625
compared to July of 2018 – $2,003,806.
Average sale price for 5+ units in San Francisco in August of 2018 was $4,278,900
compared to July of 2018 – $4,322,750.

Inventory of properties for sale in San Francisco as of September 10, 2018 = 949
Single-Family Homes = 305
Condo/Coop/TIC/Loft = 463
2-4 Units = 125
5+ units = 56

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 TWO 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 183 Single Family Houses sold in San Francisco in August of 2018,
21 sold below asking price,
12 for asking price and
150 sold for over asking price.
21 for over $300,000,
17 for over $400,000,
9 for over $500,000,
4 for over $600,000,
1 for over than $700,000.

Example property sold over asking.
1494 Plymouth Ave San Francisco CA 94112
List price – $1,888,000
Sold Price – $2,625,000
Difference- $737,000

September 2018 Peninsula/Silicon Valley Market Update

In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in August was 14 days with the average sale price $2,638,639.00 (in July was $2,873,125.00). Price Received was 7% more than asking price.

In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in August ne was 27 days with the average sale price $2,149,222.00 (in July was $1,890,666.00). Price Received was 7% more than asking price.

In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in August was only 21 days with the average sale price $1,885,850.00 (in July was $1,877,635.00). Price Received was 7% MORE than asking price.

In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in August was only 10 days with the average sale price $1,983,669.00 (in July was $2,166,571.00). Price Received was 14% MORE than asking price.

In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in August was only 20 days with the average sale price $1,798,647.00 (in July was $1,699,769.00). Price Received was 8% MORE than asking price.

In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in August was 13 days with the average sale price $2,309,066.00. (in July was $2,867,500.00). Price Received was 8% 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!

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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