March 2009 Report
San Francisco Real Estate Market Update for
February 2009
For a list of past market reports click here
The number of homes in the Overall Sales category sold in February increased dramatically from January in the San Francisco Real Estate Market but was lower than a year ago. The average selling price was again slightly UNDER 100% of the average listing price as is the case with all the categories we track, but activity was much more brisk than it has been recenlty. Buyers are making deals, and sellers seem to be willing to negotiate on the price. The number of deals being made reflects that. The average selling price was higher than January and lower than a year ago. The average days on the market went up to 72.
What do these numbers all mean? This is one of the best times to buy property in San Francisco that I have seen in many years. I have called what happened in September and October our “economic earthquake” and it had a similar effect on our market that the 1989 earthquake had on our market. Our prices have dropped and the inventory is still low. More properties are coming on the market but in the established areas there is still a need for good properties.
We publish a weekly report for even 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 which is posted on our blog.
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It takes experience to sell in a Buyers market! San Francisco Real Estate continues to be a great investment!
February sales history is now online.
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family $2M & Over | 6 | $2,802,667 | $2,729,833 | 97.40% | 60 |
| Single Family Under $2M | 83 | $779,861 | $766,789 | 98.32% | 61 |
| Condominium+ | 57 | $911,295 | $885,579 | 97.18% | 83 |
| Loft Condo | 5 | $651,228 | $635,828 | 97.64% | 61 |
| Co-op | 1 | $1,195,000 | $1,850,000 | 92.73% | 147 |
| TIC | 13 | $932,923 | $932,692 | 99.98% | 59 |
| ALL * | 176 | $932,667 | $910,237 | 97.60% | 72 |
January 2009 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family $2M & Over | 2 | $3,435,125 | $3,346,000 | 97.41% | 159 |
| Single Family Under $2M | 73 | $698,653 | $685,117 | 98.06% | 55 |
| Condominium+ | 40 | $922,461 | $881,891 | 95.60% | 84 |
| Loft Condo | 0 | $0 | $0 | 0.00% | 0 |
| Co-op | 2 | $455,000 | $455,000 | 100.00% | 49 |
| TIC | 11 | $599,455 | $580,955 | 96.91% | 89 |
| ALL * | 144 | $864,447 | $833,749 | 96.45% | 71 |
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 |
* 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.
+ Formerly, condominium statistics included
condos, co-op, lofts and TICs.
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.
