May 2009 Report
San Francisco Real Estate Market Update for
April 2009
For a list of past market reports click here
The number of homes in the Overall Sales category sold in April increased again for the second month in a row in the San Francisco Real Estate Market but was much 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 percentages show that sellers are becoming more realistic in their pricing. But buyers are still making deals. The number of deals being made reflects that. The average selling price was higher than March for the second month in a row but lower than a year ago. The average days on the market went up slightly to 72.
What do these numbers all mean? It shows that there is still no real consistency in the market. We have never really seen a market quite like this with mortgage rates still so low, but loans harder to find. Very strange indeed. The market still seems to be trying to find its equilibrium. Whether the economy begins to show signs of life or not, studies show people still have money but are saving it rather than investing. As people become comfortable with the status quo, people will start getting back into real estate.
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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from the President Coldwell Banker, San Francisco Bay Area
about the San Francisco Real Estate market. For an e-mail
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It takes experience to sell in a Buyers market! San Francisco Real Estate continues to be a great investment!
March 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 | 10 | $3,532,900 | $3,481,500 | 98.55% | 82 |
| Single Family Under $2M | 117 | $791,559 | $779,245 | 98.44% | 64 |
| Condominium+ | 48 | $925,659 | $888,215 | 95.95% | 77 |
| Loft Condo | 4 | $594,200 | $579,250 | 97.48% | 108 |
| Co-op | 1 | $1,049,000 | $985,000 | 93.90% | 34 |
| TIC | 13 | $589,231 | $577,538 | 98.02% | 72 |
| ALL * | 274 | $950,419 | $925,618 | 97.39% | 72 |
March 2009 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family $2M & Over | 4 | $4,581,250 | $4,570,000 | 99.75% | 58 |
| Single Family Under $2M | 107 | $782,385 | $767,242 | 98.06% | 60 |
| Condominium+ | 64 | $720,018 | $687,084 | 95.43% | 71 |
| Loft Condo | 7 | $877,186 | $817,714 | 93.22% | 99 |
| Co-op | 1 | $510,000 | $535,000 | 104.90% | 11 |
| TIC | 18 | $728,000 | $708,389 | 97.31% | 87 |
| ALL * | 216 | $884,808 | $857,721 | 96.94% | 69 |
April 2008 **
| 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 |
* 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.
