August Real Estate Report
|
California’s housing market moderated for the third straight month in July with both home sales and prices tempering from the heated market. Here are a few takeaways about San Francisco’s market and the rush we’ve had since about a year ago.
The San Francisco luxury market $3M+ was unseasonably hot in the middle of spring 2021, with buyers wanting more space and completely redone homes in the city’s most walkable neighborhoods. Then activity declined from spring peaks, an apparent reversion to seasonal norms – but activity was much higher than in typical summers.
|
|
Both house and condo markets have seen soaring demand since the new year began. 116% signifies an average sales price 16% over the original list price, generated by buyer competition for new listings.
|
The SF condo median sales price has ticked back up in 2021, but remains a little below its 2018 and 2020 peaks (on a 6-month rolling basis). As you can see, condo pricing is no where it was during the 2008 recession.
In 2020, the pandemic upended normal seasonal trends, but in 2021, the market appears to have reverted to the norm.
|
Housing data shows home sales and prices continue to normalize in an extremely competitive environment. However, a resurgence of COVID-19 across the state has increased uncertainty about the broader economy moving forward and could be muting the recent uptick in new listings as public health concerns return to the fore for would-be homesellers. REALTOR® optimism has also moderated in recent weeks. Still, home sales remain above pre-crisis levels and buyer demand remains strong—even as the level continues to normalize after reaching 15-year highs last winter.
Despite Increased Uncertainty, Bond Market Suggests Low Recession Probability: Even as unemployment claims rise in the face of an increased public health risk in recent weeks, the bond market has not shown a strong movement towards less-risky short-term Treasuries. Indicators such as the yield curve and bond prices show that financial markets still see a relatively low probability of another recession.
|
|
Open Houses This Weekend
This list is a loose compilation of open houses in the city. As inventory and open houses pick up, I will send more neighborhood specific lists. Feel free to contact me for more housing inventory.
|
|
|
|
It's a pretty good compromise for both the neighborhood and the commuters.
|
JUST SOLD FOR OVER ASKING PRICE
4403 24TH STREET | NOE VALLEY
|
3 Bed | 3 Bath | 2,170 Sq. Ft. | Asking $1,995,000
SOLD FOR $2,300,000
|
|
NOW PENDING SALE
337 UNION STREET | TELEGRAPH HILL
|
3 Bed | 3 Bath | 2,027 Sq. Ft.
Asking $2,995,000
|
|
Sold
2830 Pierce
Cow Hollow
3 Bed | 2 Bath SOLD $2,300,000
Sold $300K Over Asking
_
|
Sold
3851 San Bruno Avenue
Visitacion Valley
2 Bed | 1 Bath
SOLD $1,075,000
Sold For Over Asking Price
_
|
Sold
3539 Pierce
Marina District
3 Bed | 2 Bath | 2,140 Sq. Ft.
SOLD $2,650,000
Sold $355K Over Asking Price
_
|
Sold
806 Douglass Street
Noe Valley
4 Bed | 3 Bath | 2,081 Sq. Ft.
SOLD $3,002,000
Sold $450K Over Asking
_
|
|
|
© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.
marketingcenter-sfbayarea-sfcityproper |
|
|
