July 2016 San Francisco Metro Housing Update

there are currently 853 active homes for sale here in the San Francisco…
In the month of June there were a total of 513 home sales which is UP 4% from the month before.
The average sales price for June was $1,589,993 (in May was $1,541,094) with the average listing price $1,513,095 (in May was $1,423,129).
So the average Sales Price in San Francisco is approx 3% HIGHER than the month before.
Average days on market in San Francisco was 33 for the month of June (30 days for the month of May).
Inventory as of today – July, 1st – 853 properties for sale in San Francisco.
Single-Family Homes 246
Condo/Coop/TIC/Loft 485
2-4 Units 91
5+ units 31
total – 853.

Sold in June
Single-Family Homes 219
Condo/Coop/TIC/Loft 247
2-4 Units 35
5+ units 12
total – 513.

Sales by Price Range
Lower than $1,000,000 – 151
From $1,000,000 – $2,000,000 – 263
From $2,000,000 and up – 99

supply is rising quickly, we are currently at almost 2 months worth of inventory….
what that means is if another home was not listed it would take 1.5 months to sell all the current listings on the market….
6 months of inventory is when it becomes a buyers market….
If you are thinking of selling anytime in the near future, now is the time to do so, as if this trend continues you will lose equity….
The good news is if you are a home owner – we are still in a Sellers Market so there are an abundance of Buyers out there right now, but that is shifting fast, so you need to act fast and I would recommend listing your home now instead of waiting if you want to get top dollar.
For Buyers, loan rates are still at all time lows and now is a great time to buy.
I hope you have found this information useful and please feel free to reach out to me anytime if you need anything!
If you have any questions or need anything please feel free to call, text or email anytime.

Sold in San Francisco
Sold in June 2016 513
Sold in May 2016 491
Sold in April 2016 455
Sold in March 2016 418
Sold in February 2016 283
Sold in January 2016 288
Sold in December of 2015 471
Sold in November of 2015 391
Sold in October of 2015 504
Sold in September of 2015 352
Sold in August of 2015 442
Sold in July of 2015 547
Sold in June of 2015 567

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