State of the Market – San Francisco & Peninsula November 2019

Average sale price for a Single Family Home in San Francisco in October 2019 was $1,928,523 vs September of 2019 – $2,091,655 . Average selling PRICE per SQFT $1,025.08. Avg Days on Market 22.

Average for Single Family House being Sold in San Francisco in October
Listing Price $1,736,197
Listing Price Per Sq. Ft. $909.
Selling Price $1,928,523
Selling Price Per Sq. Ft. $1,025.08

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in October 2019 was $1,446,538 vs September of 2019 – $1,452,092. Average selling PRICE per SQFT $1,166.34. Avg Days on Market 28.

Average sale price for 2-4 Units in San Francisco in October 2019 was $2,420,603 vs September of 2019 – $2,117,494. Average selling PRICE per SQFT $737. Avg Days on Market 59.

Average sale price for 5+ units in San Francisco in October 2019 was $4,284,333 vs September of 2019 – $5,125,375. Average selling PRICE per SQFT $616. Avg Days on Market 56.

Inventory of properties for sale in San Francisco as of November 8, 2019 = 1102
Single-Family Homes = 307
Condo/Coop/TIC/Loft = 612
2-4 Units = 147
5+ units = 36

Average Single Family House being listed for sale in San Francisco today – Nov 8th 2019
Bedrooms 4
Baths 2.75
Square Feet 2526
Lot Size 0.07
Listing Price $3,063,063
Listing Price Per Sq. Ft. $1,001.88

All the properties Sold in October 2019 – 546.
There is currently 2 month worth of inventory, meaning if there was not another home listed, it would take just about 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 244 Single Family Houses sold in San Francisco in October of 2019,
25 sold below asking price,
19 for asking price and
200 sold for over asking price.
12 for over $500,000,
6 for over $600,000,
1 for over $700,000,
1 for $1,500,000,

Example of property sold over asking.
2765 Vallejo San Francisco CA 94123
7 – Pacific Heights
4 bed
3.5 batt
1900 built
4300 sqft
5427 sqft Lot Size
List price – $7,000,000
Sold Price – $8,500,000
Difference- $1,500,000

San Francisco Real Estate Market – Expired/Cancelled Listings
Expired/Cancelled in 2019
January 2019 – 101
February 2019 – 107
March 2019 – 97
April 2019 – 77
May 2019 – 92
June 2019 – 112
July 2019 – 166
August 2019 – 156
September 2019 – 136
October 2019 – 160

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

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