Another month has gone by. The San Francisco real estate market appears to be weathering the storm that the mortgage market is throwing at it. There are definitely less qualified buyers than were out looking for homes as the same time last year, but homes are still selling, and the good ones are still selling quickly and with multiple offers.
The number of sales increased a good bit from February (which had increased from January). Median sales price rose for single family homes and condos, but TIC’s took a major hit in median sales price. Maybe with fewer buyers out there for the lower end properties, would-be TIC buyers are taking advantage of the lack of competition and finding good deals on condos and small single family homes in the outlying areas of San Francisco. That’s speculation, but I have had more buyers coming to me that just aren’t that into TIC’s these days. In a nutshell, good deals can be found in certain sectors of the market. Want to know where? Contact me!
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 March 1, 2008 through March 31, 2008:
Single Family Homes
- 150 Homes Sold
- Median Sale Price was $892,500
- Minimum Sale Price was $360,000
- Maximum Sale Price was $5,995,000
- Median Selling Price was 101% 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
- 139 Homes Sold
- Median Sale Price was $800,000
- Minimum Sale Price was $330,000
- Maximum Sale Price was $8.975,000
- Median Selling Price was 100% of asking price
- Median Days on Market was 31
- Median Selling Price for homes that sold within 30 days was 103% of asking price
TIC’s
- 38Â Homes Sold
- Median Sale Price was $499,500
- Minimum Sale Price was $205,000
- Maximum Sale Price was $935,000
- Median Selling Price was 99% of asking price
- Median Days on Market was 62
- Median Selling Price for homes that sold within 30 days was 90.70% of asking price
