June 2008 San Francisco Home Sales Data is Here!

The latest market report is here. (You can also view previous market updates by selecting the archives on the upper right portion of the screen).

Unfortunately, things don’t look awesome.  I hate to be the bearer of bad news, but this time around, it’s not just sales volume that’s down, but median prices are dipping too.  But hell, I’ve never been one to paint a rosy picture of the SF market.  My story is and always has been that we’re not doing poorly in comparison to the rest of the country, but, price corrections have occured and the market is not HOT like it once was. 

Most importantly, this report shows that as always, real estate is local.  Some neighborhoods have seen major price drops, some minor drops and even some price increases. 
The best quote from this months’s report? 

“Knowing the median price is interesting, but it is as indicative of the value of your home as knowing the median temperature in America is to predicting the local weather.”

Read on for details.

Luba

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