August 2010 Report
San Francisco Real Estate Market Update for
July 2010
For a list of past market reports click here
The number of homes in the Overall Sales category sold in July decreased from June for the San Francisco Real Estate Market mostly due to declining inventory. Less were sold compared to a year ago as well. It sounds like an echo, but once again, the average selling price was under 100% of the average listing price with most of the categories we track with the exception of single family homes under $2M. This is the sixth month in a row that this has happened. The average days on the market slightly less than they were in June as well as a year ago.
What do these numbers all mean? As we get later and later into the summer, our inventory is drying up. People who wanted to sell have sold. If you review our weekly office statistics on our blog, you will see that every week we have a lot of deals going into escrow, but not a lot of new listings. This indicates agents are selling what is out there listed with other companies, while new sellers are reluctant to put their homes on the market. Could it be the state of the economy? Generally, San Francisco is somewhat insulated from the ups and downs of bad years, which could be why sales prices are holding pretty well. Even so, people do not have confidence in the market right now and are willing to stay put.
* 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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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 | 12 | $3,314,000 | $3,303,188 | 99.67% | 50 |
| Single Family Under $2M | 153 | $822,783 | $829,516 | 100.82% | 57 |
| Condominium+ | 143 | $758,391 | $748,721 | 98.72% | 65 |
| Loft Condo | 14 | $617,307 | $615,321 | 99.68% | 76 |
| Co-op | 3 | $1,330,667 | $1,162,667 | 87.38% | 143 |
| TIC | 16 | $575,438 | $550,188 | 95.61% | 96 |
| ALL * | 377 | $898,678 | $892,801 | 99.35% | 66 |
June 2010 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family $2M & Over | 22 | $3,365,814 | $3,223,818 | 95.78% | 55 |
| Single Family Under $2M | 187 | $859,291 | $865,282 | 100.70% | 60 |
| Condominium+ | 179 | $766,419 | $757,115 | 98.79% | 69 |
| Loft Condo | 12 | $794,275 | $777,333 | 97.87% | 73 |
| Co-op | 4 | $1,722,500 | $1,715,750 | 99.61% | 77 |
| TIC | 18 | $593,528 | $588,944 | 99.23% | 97 |
| ALL * | 457 | $981,010 | $968,985 | 98.77% | 67 |
July 2009 **
| 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 |
* 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.
