San Francisco Home Sales Data – June 2008

As I do every month, I ran the latest San Francisco real estate sales figures from the month of June for you.  And yes, I know we’re almost in August.  And yes, I know I usually run these at the beginning of the month.  But I was on vacation (and on dial-up) at the beginning of the month.  And then I got busy right when I got back, so here we are – late as hell.  But better late than never, right? 
Single Family homes sales volume is up, median price is down, days on market is up.  Condo/Loft and Co-op sales volume is slightly up, median price is down, days on market is up.  TIC sales volume is down, median price is down, days on market is up.
What’s this all mean?  It ain’t a pretty picture folks.  But, it also ain’t ugly.  San Francisco real estate is still faring much better than the country in general, and one month of lower prices doesn’t a crappy market make.  I’ll be the first to admit (adamantly) that the picture ain’t rosy – but, things could be much worse.  If this trend continues for a few months – then I’ll switch my song from “ain’t rosy” to “it’s ugly.”  But for now – I think we’re still moving along at a pace that’s great for buyers, not so great for sellers and is still, overall, ok for the City.
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 June 1, 2008 through June 30, 2008:
Single Family Homes

  • 294 Homes Sold
  • Median Sale Price was $752,500
  • Minimum Sale Price was $130,000
  • Maximum Sale Price was $18,000,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 34
  • Median Selling Price for homes that sold within 30 days was 103.5% of asking price

Condominiums, Lofts & Co-ops

  • 198 Homes Sold
  • Median Sale Price was $772,500
  • Minimum Sale Price was $150,000
  • Maximum Sale Price was $5,000,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 48
  • Median Selling Price for homes that sold within 30 days was 103.5% of asking price

TIC’s

  • 41 Homes Sold
  • Median Sale Price was $609,000
  • Minimum Sale Price was $240,000
  • Maximum Sale Price was $1,608,000
  • Median Selling Price was 100% of asking price
  • Median Days on Market was 70
  • Median Selling Price for homes that sold within 30 days was 99% of asking price

Luba