August 2008 Report
San Francisco Real Estate Market Update for
July 2008
The number of Single Family Homes sold for July increased from the previous month in San Francisco Real Estate. The average selling price was over 101% of the average listing price. Yet the average selling price was lower than June as well as a year ago. The average days on the market increased slightly to 48.
The number of Condominiums sold in July increased dramatically from the previous month in the San Francisco Real Estate Market. The average selling price was back up over 100% of the average listing price. The average selling price was higher than June as well as a year ago. The average days on the market decreased to 58.
The number of homes in the Overall Sales category sold in July increased from the previous month in the San Francisco Real Estate Market as well as a year ago. The average selling price was almost 101% of the average listing price. However the average selling price was lower than June as well as a year ago. The average days on the market decreased to 55.
What do these numbers all mean? It feels like the market is slow, but the number so not bear that out. Compared to the same time last year, July (a traditionally slow time due to weather conditions and people leaving on vacations) was not that bad. In fact, with condos, the market actually improved dramatically. We expect August to continue at this pace with a gentle increase as we hit fall.
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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July sales history is now online.
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 208 | $1,149,216 | $1,167,646 | 101.60% | 48 |
| Condominium | 246 | $898,300 | $900,608 | 100.26% | 58 |
| ALL * | 502 | $1,060,207 | $1,070,266 | 100.95% | 55 |
June 2008 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 195 | $1,256,098 | $1,257,521 | 100.11% | 45 |
| Condominium | 186 | $876,305 | $874,332 | 99.77% | 69 |
| ALL * | 423 | $1,185,023 | $1,179,416 | 99.53% | 58 |
July 2007 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 191 | $1,236,557 | $1,295,062 | 104.73% | 38 |
| Condominium | 238 | $791,909 | $817,378 | 103.22% | 42 |
| ALL * | 481 | $1,055,537 | $1,091,732 | 103.43% | 43 |
* 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.
