Home Sales in San Francisco: September 2020 vs September 2019
The San Francisco housing market is moving fast! The number of single-family homes sold in September 2020 was up by a whopping 83% from September of 2019! The number of condominiums sold went up by 56%. The median price for a single-family home climbed by 9% while the median price for a condominium, loft or townhome in San Francisco fell by 9%.
What Are Buyers Experiencing?
More choices: Inventory increased dramatically over the past few months.
Fewer bidding wars: Single-family homes sold at an average of 7% higher than their list price compared to 12% higher in 2019.
Lower prices per square foot: The average price per square foot was down by 8% for condos and 2% for single-family homes.
Interest rates at record lows.
What is Selling?
Buyers are acting quickly on properties that are well prepped and move-in ready. One example is my listing at 2945 Pacific Avenue, #5 (pictured). This one bedroom condominium went into contract within 24 hours of the MLS listing.
The real estate market is moving fast! I am ready to sprint for you! Contact me to discuss a strategy for your next move.