May 2008 Report
San Francisco Real Estate Market Update for April 2008
The number of Single Family Homes sold for April increased for the third month in a row from the previous month in San Francisco Real Estate. The average selling price was almost 104% of the average listing price. The average listing price was slightly lower than March but slightly higher than a year ago. The average days on the market decreased to for the second month in a row to 39.
The number of Condominiums sold in April increased dramatically from the previous month (third month in a row) in the San Francisco Real Estate Market. The average selling price was back up over 101% of the average listing price. The average selling price was lower than March, but higher than a year ago. The average days on the market decreased slightly to to 50.
The number of homes in the Overall Sales category sold in April increased for the third month over the previous month in the San Francisco Real Estate Market. The average selling price was slightly over 102% of the average listing price. The average selling price was slightly higher than March as well as a year ago. The average days on the market decreased slightly to 46.
What do these numbers all mean? There is no question that volume is down. Number of homes sold is off; this is mostly a result of there being no inventory to sell. When properties are listed and priced right, they sell sometimes even with multiple offers. And as happens with supply and demand, as inventories shrink, prices are trending upward.
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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March sales history is now online.
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 181 | $1,195,214 | $1,242,237 | 103.93% | 39 |
| Condominium | 214 | $910,251 | $919,672 | 101.03% | 50 |
| ALL * | 439 | $1,102,237 | $1,126,029 | 102.16% | 46 |
March 2008 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 128 | $1,226,876 | $1,248,654 | 101.78% | 44 |
| Condominium | 150 | $950,610 | $947,126 | 99.63% | 55 |
| ALL * | 312 | $1,109,095 | $1,123,495 | 101.30% | 49 |
April 2007 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 176 | $1,106,529 | $1,177,532 | 106.42% | 36 |
| Condominium | 232 | $842,091 | $858,725 | 101.98% | 48 |
| ALL * | 466 | $1,041,558 | $1,079,010 | 103.60% | 47 |
* 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.
