August 2009 Report
San Francisco Real Estate Market Update for
July 2009
For a list of past market reports click here
The number of homes in the Overall Sales category sold in July increased from June and for the fifth month in a row in the San Francisco Real Estate Market but still lower than a year ago. The average selling price was again UNDER 100% of the average listing price as is the case with all the categories we track. The average selling price was lower than the previous month for the second month in a row and much lower than a year ago. The average days on the market remained the same as they were in June.
What do these numbers all mean? Even though the market is down over previous years of multiple offers and over asking price sales, properties are selling. We even had a spike in sales toward the end of the month which could be refected in the July numbers next month. All in all, the real estate market for San Francisco is doing well considering the state of the economy and high unemployment. People looking to buy in the City seem to have the money, even though money from lenders is still tight. As we head into the summer lull things tend to slow down. But with interest rates still low and the fact we still have a buyers' market, bargain hunters would be wise to take advantage of this opportunity to make that deal.
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!
July 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 | 14 | $4,561,929 | $4,298,232 | 94.22% | 88 |
| Single Family Under $2M | 193 | $817,789 | $816,952 | 99.90% | 56 |
| Condominium+ | 131 | $767,141 | $747,908 | 97.49% | 81 |
| Loft Condo | 11 | $567,909 | $557,636 | 98.19% | 88 |
| Co-op | 1 | $389,000 | $365,000 | 93.83% | 72 |
| TIC | 40 | $636,838 | $627,763 | 98.57% | 91 |
| ALL * | 425 | $960,725 | $940,353 | 97.88% | 71 |
June 2009 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family $2M & Over | 20 | $3,591,625 | $3,562,725 | 99.20% | 85 |
| Single Family Under $2M | 177 | $815,819 | $808,048 | 99.05% | 64 |
| Condominium+ | 123 | $771,072 | $754,111 | 97.80% | 68 |
| Loft Condo | 9 | $808,179 | $772,222 | 95.55% | 87 |
| Co-op | 3 | $1,540,000 | $1,483,333 | 96.32% | 54 |
| TIC | 32 | $645,891 | $635,359 | 98.37% | 90 |
| ALL * | 395 | $961,419 | $944,622 | 98.25% | 71 |
July 2008 **
| 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 |
* 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.
