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March 2009 San Francisco Home Sales Data is Here!

Yet again, Luba’s San Francisco Real Estate Blog brings you latest San Francisco Real Estate market report here. (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:

Sales of single-family, re-sale homes and condos continued rising last month as we enter the Spring selling season. Home sales were up 21.2% from February, off 14.3% year-over-year. Year-to-date, home sales are off 20.3%.

Condo sales were up 27.3% month-over-month, but off 34.5% compared to March 2008. Year-to-date, condo sales are off 40.2%.

Prices continued the roller coaster ride they’ve been on for the past few months. After rising 17.3% in February from the month before, the median price dropped 3.2% in March, a drop of 22.9% year-over-year. This is the eleventh month in a row the median price has been lower than the year before. The average price also fell, falling 8.8% month-over-month, and down 25% compared to last March.

The median price for loft/condos in San Francisco dropped 11% from February, and was down 15.2% year-over-year. The average price for condos fell 18.2% from February.  The average price was off 23.1% year-over-year.

Read on for full details.