September 2009 Report
San Francisco Real Estate Market Update for
August 2009
For a list of past market reports click here
The number of homes in the Overall Sales category sold in August decreased from July and for the first time in the last six months of the San Francisco Real Estate Market and is still much 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 with the exception of single family homes under $1M. As you can see by the table, it is the only category where the selling price was OVER 100% of the asking price. The average days on the market was slightly less than they were in July indicating that the market is still brisk.
What do these numbers all mean? Even though prices are down over previous years, properties are still selling and some are even getting multiple offers. As mentioned above, we even have the rare event where a category has an average sales price which is actually over 100% of the asking price. All in all, the real estate market for San Francisco is doing well considering the continuing state of the economic downturn and high unemployment numbers. How long this can last is anyone's guess.
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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August 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 | $3,011,464 | $2,877,193 | 95.54% | 110 |
| Single Family Under $2M | 170 | $746,406 | $752,451 | 100.81% | 49 |
| Condominium+ | 133 | $821,200 | $805,093 | 98.04% | 81 |
| Loft Condo | 9 | $642,667 | $619,267 | 96.36% | 77 |
| Co-op | 4 | $2,746,250 | $2,558,750 | 93.17% | 107 |
| TIC | 26 | $613,115 | $599,841 | 97.83% | 89 |
| ALL * | 386 | $894,933 | $878,116 | 98.12% | 68 |
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 |
August 2008 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 174 | $1,118,638 | $1,116,952 | 99.85% | 56 |
| Condominium | 177 | $854,645 | $849,519 | 99.40% | 69 |
| ALL * | 387 | $1,051,220 | $1,043,912 | 99.30% | 63 |
* 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.
