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December 2008 San Francisco Home Sales Data is Here!

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

Here’s a little glimpse of the report:

Sales of single-family, re-sale homes dropped 7.5% last year compared to 2007. After peaking in 2003, home sales have fallen each year since. Click on Annual Trends to the left for the full annual report.

The median price for single-family, re-sale homes fell 5.6% in December from the month before, and it was down 12.5% year-over-year. The average price was off 16.5% month-over-month, and was down 30.4% compared to last December.

San Francisco sales of single-family, re-sale homes dropped 5.8% from November, and were off 16.6% year-over-year.

Loft/condo sales rose off the record low set in November, gaining 14.8%. But sales were off 53% compared to December 2007.

The median price for loft/condos in San Francisco fell 9.5% from November, and was down 9.3% year-over-year. The average price for condos dropped 11.5% from November.  The average price was down 14.3% year-over-year.

Read on for full details.