San Francisco Home Sales Data – April 2008

Do you realize that it’s MAY???  I mean, a third of 2008 is now but a memory.  Winter is over (though I couldn’t really tell by today’s weather) and Spring isn’t far from being over too. 
Other things that typically happen this time of year is that San Francisco Real Estate Sales pick up – and this year is no less typical (in this regard at least) that others.  With that being said – I went ahead and ran the sales from the MLS as I do every month and found some interesting stuff.
Notables from April 2008 sales figures:

  • Median sales price rose across the board from last month.
  • The selling price vs. listing price percentage increased in single family homes and TIC’s, but dropped in condos.
  • Days on market decreased across the board.
  • In terms of sales volume, single family home and condos increased drastically over last month, but we had just 2 more TIC sales than we did in March.

Last month I had a theory about TIC buyers.   And I’m starting to think I was right.  I’m also noticing better deals on condos due to less competition.  In fact, I was just able to help my client negotiate an offer on a condo for $50K under the asking price.  We did provide the sellers with other concessions such as a short escrow and free rent back, but we got the price we wanted – so I think everyone is happy.  The point is, there are good values out there right now – and if you’re hunting for a home right now, you might find a good deal.  And sellers, don’t be afraid to sell now – but do be prepared to be realistic about the sales price. 
So here’s this month’s summary of home sales pulled directly from the MLS. Remember, these are all closed sales and not pending sales.
Check back monthly to get the latest facts and figures – and if you have any questions about these statistics, or the market in general, feel free to give me a holler! I’m always happy to talk “real estate!” 😉
Here’s a quick snapshot of the market from April 1, 2008 through April 30, 2008:
Single Family Homes

  • 193 Homes Sold
  • Median Sale Price was $935,000
  • Minimum Sale Price was $350,000
  • Maximum Sale Price was $5,625,000
  • Median Selling Price was 104% of asking price
  • Median Days on Market was 30
  • Median Selling Price for homes that sold within 30 days was 105% of asking price

Condominiums, Lofts & Co-ops

  • 184 Homes Sold
  • Median Sale Price was $815,000
  • Minimum Sale Price was $335,000
  • Maximum Sale Price was $4,625,000
  • Median Selling Price was 98% of asking price
  • Median Days on Market was 35
  • Median Selling Price for homes that sold within 30 days was 104% of asking price

TIC’s

  • 40 Homes Sold
  • Median Sale Price was $664,000
  • Minimum Sale Price was $263,500
  • Maximum Sale Price was $1,799,000
  • Median Selling Price was 102% of asking price
  • Median Days on Market was 45
  • Median Selling Price for homes that sold within 30 days was 102% of asking price

Luba

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