State of the Market – San Francisco/Peninsula May 2019

Average sale price for a Single Family Home in San Francisco in April 2019 was $2,251,411 vs March of 2019 – $2,040,343.

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in April 2019 was $1,358,840 vs March of 2019 – $1,325,609.

Average sale price for 2-4 Units in San Francisco in April 2019 was $1,971,297 vs March of 2019 – $2,262,784.

Average sale price for 5+ units in San Francisco in April 2019 was $4,909,500 vs March of 2019 – $6,248,025.

There are currently 800 active homes for sale in San Francisco as of May 10, 2019 vs 767 active homes the month prior.

All the properties Sold in April 2019 – 578
All the properties Sold in April 2018 – 494.

Inventory of properties for sale in San Francisco as of May 10, 2019 = 800
Single-Family Homes = 230
Condo/Coop/TIC/Loft = 415
2-4 Units = 106
5+ units = 49

There is currently LESS than 2 month worth of inventory, meaning if there was not another home listed, it would take just 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.

May 2019 Peninsula/Silicon Valley Market Update

In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in April was 14 days vs 24 days one month prior with the average sale price $3,243,580.00 (in March was $2,568,334.00). Price Received was 5% MORE than an asking price.

In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in April was 15 days with the average sale price $1,830,769.00 (in March was $1,780,833.00). Price Received was 3% MORE than an asking price.

In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in April was only 14 days with the average sale price $1,891,821.00 (in March was $1,816,117.00). Price Received was 6% MORE than asking price.

In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in April was only 19 days with the average sale price $2,108,827.00 (in March was $2,171,440.00. Price Received was 8% MORE than asking price.

In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in April was only 31 days with the average sale price $1,765,424.00 (in March was $1,696,816.00). Price Received was 5% MORE than asking price.

In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in April was 24 days with the average sale price $2,817,705.00 (in March was $3,014,899.00). Price Received was 4% MORE than asking price.

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).

Leave a Reply

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