California Housing Market Rebounds in September
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The Median Sales Price increases in San Francisco during the month of September
California home sales in September reversed a four-month decline and posted the largest monthly increase in more than a year, according to the CALIFORNIA ASSOCIATION OF REALTORS. In San Francisco, the number of sales actually dipped on a year-over-year basis in September (-7.7%). However, median prices continued to grow on a year-over-year basis, and the Bay Area had the largest jump (21.7 percent) of all CA regions. The city of San Francisco had a 6.9% growth in median price. Growing prices in a market with declining home sales usually means there is a high demand for housing and that is the situation in SF – we will keep an eye on these figures. Increasing interest rates could also be a factor. Stay tuned.
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The number of listings sold in San Francisco dropped in September
As we move into the winter months, market competition typically eases and home prices moderate. Now that the market is following a more normal pattern, I do believe there will be less competition than last year’s hot winter market. This would be an ideal opportunity to revisit buying, especially with interest rates remaining low.
Historically Low Interest Rates Climbed Slightly Last Week
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A Few Interesting Market Data Points:
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California’s housing supply leveled off in September as the market transitioned into the off season. Marin had the largest decline in supply from a year ago, falling 52.8 percent from September 2020. San Mateo had 40.5 percent less listings.
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Six out of ten homes in California sold over asking price in September 2021.
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The 30-year, fixed-mortgage interest rate averaged 2.90 percent in September, up from 2.89 percent in September 2020, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 2.45 percent, compared to 2.98 percent in September 2020.
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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.
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Outdoor space is more valuable than ever. And when buyers view a home, the front landscaping is often considered the first impression.
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JUST SOLD
2339 BRYANT | INNER MISSION
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4 Bed | 4.5 Bath | 3,185 Sq. Ft. | Asking $3,199,000
SOLD $3,300,000
Sold $101,000 Over Asking Price
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JUST SOLD
631 LA MESA | PORTOLA VALLEY
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5 Bed | 3.5 Bath | 2,050 Sq. Ft. | Asking $3,488,000
SOLD $4,550,000
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JUST SOLD
3733 CLAY STREET | PRESIDIO HEIGHTS
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3 Bed | 3.5 Bath | 2,345 Sq. Ft. | Asking $2,750,000
SOLD $2,910,000
Sold $160K Over Asking Price
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JUST SOLD
1286 45TH AVENUE | OUTER SUNSET
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4 Bed | 4 Bath | 1,898 Sq. Ft. | Asking $1,699,000
SOLD $1,960,000
Sold $261K Over Asking Price
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JUST SOLD
711 4TH AVENUE | INNER RICHMOND
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2 Bed | 1 Bath | 1,248 Sq. Ft. | Asking $1,799,000
SOLD $1,825,000
Sold $26K Over Asking Price
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NOW PENDING
116 PARK STREET | BERNAL HEIGHTS
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2 Bed | 1 Bath | 1,140 Sq. Ft. | Asking $835,000
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Just Sold
4 Bed | 2 Bath | 1,780 Sq. Ft.
SOLD $1,810,000
Sold $30K Over Asking Price
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Just Sold
112 Arguello #5
PRESIDIO HEIGHTS
2 Bed | 1 Bath
SOLD $1,200,000
Sold For Over Asking Price
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© 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.
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