State of the Market – San Francisco October 2019

Average sale price for a Single Family Home in San Francisco in September 2019 was $2,091,655 vs August of 2019 – $1,840,343. Average selling PRICE per SQFT $1,031.62. Avg Days on Market 28.

Average for Single Family House being Sold in San Francisco in September
Listing Price $1,918,753
Selling Price $2,091,656

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in September 2019 was $1,452,092 vs August of 2019 – $1,398,687. Average selling PRICE per SQFT $1,152.20. Avg Days on Market 35.

Average sale price for 2-4 Units in San Francisco in September 2019 was $2,117,494 vs August of 2019 – $2,143,054. Average selling PRICE per SQFT $643.62. Avg Days on Market 40.

Average sale price for 5+ units in San Francisco in September 2019 was $5,125,375 vs August of 2019 – $3,512,636. Average selling PRICE per SQFT $55310. Avg Days on Marke t51.

Inventory of properties for sale in San Francisco as of October 5, 2019 = 1174
Single-Family Homes = 317
Condo/Coop/TIC/Loft = 666
2-4 Units = 149
5+ units = 42

All the properties Sold in September 2019 – 354.
There is currently 3 month worth of inventory, meaning if there was not another home listed, it would take just 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.

Out of 122 Single Family Houses sold in San Francisco in September of 2019,
25 sold below asking price,
6 for asking price and
91 sold for over asking price:
3 for over $500,000,
1 for over $600,000,
2 for over $800,000,
2 for over $1,000,000

Example of property sold over asking.
2561 Washington St San Francisco CA 94115
7 – Pacific Heights
5 bed
3.5 batt
1900 built
5469 sqft
5105 sqft Lot Size
List price – $7,800,000
Sold Price – $9,150,000
Difference- $1,350,000

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

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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