March 2008 Report
San Francisco Real Estate Market Update for
February 2008
The number of Single Family Homes sold for February increased again from the previous month in San Francisco Real Estate. The average selling price was back to over 100% of the average listing price. The average listing price was lower than January but average selling price was slightly higher. Average selling price was almost 13% higher than a year ago! The average days on the market decreased dramatically to 49.
The number of Condominiums sold in February increased from the previous month in the San Francisco Real Estate Market, but was less than a year ago. The average selling price was back to over 100% of the average listing price. The average selling price was lower than January, but 7% higher than a year ago. The average days on the market decreased to to 50.
The number of homes in the Overall Sales category sold in February also increased from the previous month in the San Francisco Real Estate Market. The average selling price was slightly over 100% of the average listing price. The average selling price was slightly higher than January but was almost 8% higher than a year ago. The average days on the market decreased to 51.
What do these numbers all mean? February is typically another slow month for us. However, with nice weather coming after a very rainy beginning to the month, buyers seem to be out in mass. Notice that the average listing prices are very close to the average selling prices, which indicates that sellers are pricing their homes close to or slightly under the actual market value in order to attract more buyers. As a result, selling prices are very close to what people are asking for their homes. The lower days on the market indicates a healthy San Francisco Real Estate market. Rick Turley publishes a weekly report for more insight.
* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.
Mortgage rates are always changing. Foster Weeks does a weekly mortgage update, part of which is posted on our blog.
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February statistical market history is now online.
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 116 | $1,204,526 | $1,216,025 | 100.95% | 49 |
| Condominium | 143 | $825,689 | $827,846 | 100.26% | 50 |
| ALL * | 297 | $1,102,121 | $1,107,500 | 100.49% | 51 |
January 2008 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 93 | $1,222,832 | $1,213,813 | 99.26% | 63 |
| Condominium | 93 | $853,946 | $844,228 | 98.86% | 64 |
| ALL * | 205 | $1,105,079 | $1,093,855 | 98.98% | 65 |
February 2007 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 116 | $1,059,538 | $1,090,149 | 102.89% | 46 |
| Condominium | 185 | $770,426 | $776,454 | 100.78% | 59 |
| ALL * | 335 | $1,016,144 | $1,029,016 | 101.27% | 56 |
* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4 Units, and
5+ Units.
** Figures subject to change as Multiple Listing Service is updated.
Realtor.com is the official site of the National Association of Realtors® (NAR) and is a search engine for real estate nationwide. Realtor.com has all of San Francisco's listed homes and condominiums.
