January 2009 Report
San Francisco Real Estate Market Update for
December 2008
For a list of past market reports click here
The number of homes in the Overall Sales category sold in December increased from November in the San Francisco Real Estate Market but was much lower than a year ago. The average selling price was again slightly UNDER 100% of the average listing price as is the case with all the categories we track. Therefore, it is safe to assume that buyers are making deals, and sellers are willing to negotiate on the price. The average selling price was lower than November and slightly lower than a year ago. The average days on the market increased to 71.
What do these numbers all mean? This time homes under $2M is the category to watch. According to December's figures, the are fetching closest to the asking price. As we said last time, the best investment seems to be the single family home, particularly those under $2M. All in all, December is a traditionally slow month and the market numbers show this. We will have to wait and see what 2009 brings. If the loan markets calm down and interest rates stay low, people may start trusting real estate as an investment again. We hope you appreciate the more detailed analysis of the market numbers.
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, part of which is posted on our blog.
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December 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 | 5 | $3,064,800 | $2,865,000 | 93.05% | 101 |
| Single Family Under $2M | 118 | $785,829 | $774,607 | 98.57% | 66 |
| Condominium+ | 77 | $756,608 | $732,667 | 96.84% | 72 |
| Loft Condo | 6 | $739,333 | $723,333 | 97.84% | 51 |
| Co-op | 4 | $1,816,250 | $1,768,603 | 97.38% | 67 |
| TIC | 28 | $644,857 | $626,690 | 97.46% | 82 |
| ALL * | 263 | $895,176 | $872,451 | 97.46% | 71 |
November 2008 **
| Property Type | Sold | Avg Listing |
Avg Selling Price |
% Sales Price versus Listing | Avg Days on Market |
| Single Family $2M & Over | 10 | $3,443,500 | $3,411,300 | 99.06% | 37 |
| Single Family Under $2M | 116 | $815,821 | $811,962 | 99.53% | 56 |
| Condominium+ | 72 | $820,909 | $815,426 | 99.33% | 55 |
| Loft Condo | 5 | $604,600 | $589,800 | 97.55% | 133 |
| Co-op | 2 | $3,614,500 | $3,609,750 | 99.87% | 36 |
| TIC | 9 | $561,667 | $553,778 | 98.60% | 83 |
| ALL * | 237 | $1,023,788 | $1,009,672 | 98.62% | 58 |
December 2007 **
| 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 |
* 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.
