June 2008 Report
San Francisco Real Estate Market Update for May 2008
The number of Single Family Homes sold for May increased for the fourth month in a row from the previous month in San Francisco Real Estate. The average selling price was just slightly over 100% of the average listing price. The average selling price was slightly higher than April but slightly lower than a year ago. The average days on the market decreased to for the third month in a row to 38.
The number of Condominiums sold in May increased again from the previous month for the fourth month in a row in the San Francisco Real Estate Market. However, the average selling price was under 100% of the average listing price. The average selling price was lower than April, but higher than a year ago. The average days on the market increased to 58.
The number of homes in the Overall Sales category sold in May increased for the fourth month in a row over 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 higher than April as well as a year ago. The average days on the market increased slightly to 49.
What do these numbers all mean? Our market is holding steady. Reports of multiple offers are still coming in, though not as common as in the past. And selling prices are at or near listing prices meaning buyers and sellers are becoming more realistic. Overall, the San Francisco real estate market is still strong.
We publish 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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May sales history is now online.
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 196 | $1,325,356 | $1,334,602 | 100.70% | 38 |
| Condominium | 228 | $896,349 | $892,853 | 99.61% | 58 |
| ALL * | 469 | $1,131,357 | $1,132,026 | 100.06% | 49 |
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 |
May 2007 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 199 | $1,281,071 | $1,335,105 | 104.22% | 38 |
| Condominium | 281 | $820,368 | $842,861 | 102.74% | 44 |
| ALL * | 546 | $1,098,009 | $1,131,817 | 103.08% | 42 |
* 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.
