Uncategorized August 19, 2022

San Francisco Real Estate is Moving Fast!

Home Sales in San Francisco: September 2020 Compared to 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.