State of the Market – San Francisco January 2020

Average sale price for a Single Family Home in San Francisco in December 2019 was $1,952,879 vs November of 2019 – $1,995,413 . Average selling PRICE per SQFT $958.21.
Avg Days on Market 31

Average for Single Family House being Sold in San Francisco in December
Listing Price $1,856,942
Listing Price Per Sq. Ft. $886.63.
Selling Price $1,952,879
Selling Price Per Sq. Ft. $958.21

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in December 2019 was $1,282,047vs November of 2019 – $1,330,776 . Average selling PRICE per SQFT $1,070.55. Avg Days on Market 46.

Average sale price for 2-4 Units in San Francisco in December 2019 was $2,130,419 vs November of 2019 – $2,104,121 Average selling PRICE per SQFT $716.51. Avg Days on Market 52.

Average sale price for 5+ units in San Francisco in December 2019 was $3,653,500 vs November of 2019 – $5,306,500. Average selling PRICE per SQFT $537. Avg Days on Market 104.

Inventory of properties for sale in San Francisco as of January 10, 2020 = 456
Single-Family Homes = 99
Condo/Coop/TIC/Loft = 270
2-4 Units = 64
5+ units = 23

There are 223 properties PENDING in San Francisco as of January 10, 2020
There are 191 properties PENDING in San Mateo County as of January 10, 2020
There are 453 properties PENDING in Santa Clara County as of January 10, 2020

All the properties Sold in December 2019 – 426.

There is currently ABOUT 1 month worth of inventory, meaning if there was not another home listed, it would take just about one 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.

Out of 174 Single Family Houses sold in San Francisco in December of 2019,
47 sold below asking price,
12 for asking price and
115 sold for over asking price.
2 for over $500,000,
1 for over $600,000,
1 for over $700,000,
2 for over $800,000,
1 for over $1,000,000

22 Single Family Houses sold under $1,000,000;
136 (or 78%) from $2,000,000 to $3,000,000;
11 from $3,000,000 to $5,000,000;
3 from $5,000,000 to $7,000,000;
3 for over $10,000,000

Average Single Family House being sold in SF in December 2019
Bedrooms 3
Bath 2.18
Square Feet 1911
Lot Size 0.06
Listing Price $1,856,942
Listing Price Per Sq. Ft. $886,663
Selling Price $1,952,859
Selling Price Per Sq. Ft. $958.21
DOM 31.02

Example of property sold over asking.
42 Walter St San Francisco CA 94114
3 bed
1 bath
1900 built
1756 sqft
2495 sqft Lot Size
Listed 11/17/2019
Sold 12/03/2019
List price – $1,588,000
Sold Price – $2,600,000
Difference- $1,012,,000

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.

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).

Valeriy Krysov
Real Estate Broker
CalBRE Lic 01847176
📞 415-385-8949
✉️ ValKrysov@RealtyFinancial.com
🖥 RealtyFinancial.com
#SFCityRealtor #SanFrancisco #RealEstate #Peninsula #BayArea #SiliconValley #Realtor

Leave a Reply

Your email address will not be published. Required fields are marked *