San Francisco Real Estate Update – March 2011

Yet again, Luba’s San Francisco Real Estate Blog brings you latest San Francisco Real Estate market report. (You can also view previous market updates by selecting the archives on the upper right portion of the screen). Heres’s a little glimpse of the report:

Median Home Price Continues Rising

Trends at a Glance(Single-family Homes)Mar 11Feb 11Mar 10Home Sales:203116220Median Price:$765,000$645,000$789,500Average Price:$1,054,979$812,615$1,097,489Sale/List Price Ratio:99.6%98.1%99.8%Days on Market:678154(Lofts/Townhomes/TIC)Mar 11Feb 11Mar 10Condo Sales:206160222Median Price:$636,000$565,000$655,000Average Price:$720,802$672,836$741,291Sale/List Price Ratio:97.4%97.8%97.7%Days on Market:698470

After hitting a two year low in January, the median price for single-family re-sale homes rose 18.6% in March from February. Year-over-year, the median price was off for the seventh month in a row, falling 3.1%.

After falling to their lowest level since January 2009 in February, home sales bounced back last month, which is normal for this time of year, and rose 75% from February. The 203 home sales last month were 7.7% lower than last March.

Posted in San Francisco News and Events, San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions