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Dear Friends and Family,
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To be more efficient in the new decade, I will send these data-driven real estate updates on a quarterly basis for your convenience.
Don't hesitate to reach out if you need market info sooner!-
Currently, I am analyzing market-specific data for my active clients and am happy to dig for the details if you are ready to make your next move and need the facts to get there.
First on the agenda is staying safe and being on time!
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Spring is here San Francisco!
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Don't forget to set the clocks forward this Sunday.
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Stay safe SF
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San Francisco Real Estate
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March 2020 Report
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As Q1 comes to a close we can recap how our market is being impacted by the circumstances like the election and coronavirus.
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My goal is to truly understand how & where buyers are moving the market. Bidding wars, disclosure requests, or no offers on different property types and neighborhoods give us these insights.
Everything is about certainty.
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There is a lot going on in the world right now and we won’t pretend to know how things will turn out or affect the local real estate market over the next few months. In the meantime, this report will look at the most recent data available, though the impact of the wild volatility in the financial markets and the unfolding situation with the coronavirus has yet to show up in reliable statistics. Typically, the spring selling season is the most active of the year.
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One positive for real estate is that mortgage interest rates hit a historic low in early March, as illustrated below, and rates play a huge role in housing affordability.
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As always, please don’t hesitate to let me know if I can be of assistance in any way.
I wish you and yours safety and health in these challenging days. |
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Buyers lock in your rate!
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Mortgage Interest Rates Hit New All-Time Low
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Home values continue to appreciate in SF.
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Short-Term & Long-Term Trends
in Median Home Sales Prices
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Median Dollar per Square Foot Values
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Home Sales Breakdown
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Listing Inventory vs. Sales since 2005
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Trends in Overbidding Asking Price
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Overbidding remains common and at high levels for house listings in particular, however part of this is due strategic under-pricing on the part of listing agents.
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The supply and demand dynamic for condos has been affected over the last few years by new-condo inventory coming on market.
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The Extreme Seasonality of Real Estate Markets
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After the mid-winter doldrums, we would typically start seeing a huge jump in sales as the spring market gets underway.
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Remember that sales are about a month behind the market, i.e. sales in one month mostly reflect new listings and offers accepted in the previous month.
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Your neighborohod market
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Home Sales & Values by San Francisco District
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District Home Price Trends
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There are 70+ neighborhoods in ten Realtor districts in San Francisco - too many to cover in one newsletter.
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Below are some representative snapshots, but we also have trend data on every neighborhood in the city, which can be supplied upon request.
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Compass
891 Beach St
San Francisco, CA 94109
5016N Parkway Calabasas, Suite 100
Calabasas, CA 91302
DRE# 02048554
Valerie Aliwarga