January 2008 Report
San Francisco Real Estate Market Update for
December 2007
The number of Single Family Homes sold for December decreased again from the previous month in San Francisco Real Estate. The average selling price was less than 100% of the average listing price, something we haven't seen in a long time. The average selling price was also lower than November but higher than a year ago. The average days on the market increased dramatically to 55.
The number of Condominiums sold in December also decreased again from the previous month in the San Francisco Real Estate Market, however, the average selling price was slightly over 100% of the average listing price. The average selling price was lower than November, and lower than a year ago. The average days on the market increased to to 62.
The number of homes in the Overall Sales category sold in December also decreased again from the previous month in the San Francisco Real Estate Market, however, the average selling price was also just slightly over 100% of the average listing price. The average selling price was higher than a year ago. The average days on the market increased to 60.
What a difference a month makes. December is traditionally a very slow month for us, but this particular month shows that over asking price offers were NOT the norm. For the first time in a long time all three categories sales prices are nearly the same or slightly less than the average asking prices. Rick Turley publishes 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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December statistical market history is now online.
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 142 | $1,131,422 | $1,118,577 | 98.86% | 55 |
| Condominium | 180 | $805,017 | $805,836 | 100.10% | 62 |
| ALL * | 364 | $1,035,667 | $1,036,330 | 100.06% | 60 |
November 2007 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family Dwelling | 165 | $1,185,354 | $1,204,219 | 101.59% | 37 |
| Condominium | 203 | $862,367 | $866,287 | 100.45% | 49 |
| ALL * | 417 | $1,067,201 | $1,076,498 | 100.87% | 44 |
December 2006 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | |
| Single Family Dwelling | 180 | $1,086,877 | $1,097,941 | 101.02% | |
| Condominium | 211 | $823,898 | $820,710 | 99.61% | |
| ALL * | 430 | $1,007,142 | $1,009,242 | 100.21% |
* 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.
