October 2009 Report
San Francisco Real Estate Market Update for
September 2009
For a list of past market reports click here
The number of homes in the Overall Sales category sold in September decreased significantly from August and for the second time in the last six months of the San Francisco Real Estate Market. the number of homes sold was more than a year ago. However, the average selling price was still less than a year ago. Once again average selling prices were UNDER 100% of the average listing price in all the categories we track with the exception (second month in a row) 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 more than they were in August indicating that the market is starting to cool as we head toward the fall holidays.
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 though this is not the norm. Even with the few over asking price deals, it was not enough to really affect the overall numbers in a significant way. The biggest winner last month was the single family homes under $2M category and the biggest loser was Co-ops falling to under 90% of the asking price! This would be expected since Co-ops take longer to sell and are trickier than their cousins, TICs and Condos. Considering the continuing state of the economic downturn and higher unemployment numbers we are fortunate our market is doing so well.
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.
Regular features
- Weekly update
from the President Coldwell Banker, San Francisco Bay Area
about the San Francisco Real Estate market. For an e-mail
alert when this report is updated, send a note to info@SFResidence.com
with "weekly market report" in the subject line.
- List of our monthly newsletters.
- Blog for the latest in San
Francisco Real Estate Market reports!
- Z-Estimates - For quick estimates of your property's value! For accurate and detailed estimates, call us.
It takes experience to sell in a Buyers market! San Francisco Real Estate continues to be a great investment!
September 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 | 6 | $4,559,167 | $4,445,833 | 97.51% | 49 |
| Single Family Under $2M | 154 | $797,792 | $801,629 | 100.48% | 58 |
| Condominium+ | 148 | $843,518 | $822,491 | 97.51% | 78 |
| Loft Condo | 14 | $676,279 | $656,214 | 97.03% | 124 |
| Co-op | 3 | $3,209,667 | $2,657,667 | 82.80% | 101 |
| TIC | 18 | $570,694 | $562,611 | 98.58% | 95 |
| ALL * | 387 | $954,664 | $934,597 | 97.90% | 72 |
August 2009 **
| 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 |
September 2008 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 175 | $1,032,758 | $1,042,905 | 100.98% | 53 |
| Condominium | 160 | $821,097 | $807,194 | 98.31% | 72 |
| ALL * | 374 | $974,844 | $970,769 | 99.58% | 64 |
* 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.
