June 2016 San Francisco Metro Housing Update

The market is shifting fast….
In the last 30 days we have had approx 6% spike in number of listings hit the market, that is up 49 properties from the month before…
there are currently 888 active homes for sale here in the San Francisco…
In the month of May there were a total of 491 home sales which is UP 8% from the month before.
The average sales price for May was $1,541,094 (in April was $1,642,290) with the average listing price $1,423,129 (in April was $1,531,430 ).
So the average Sales Price in San Francisco broke the record first time in a very long period of time and is approx 6% LOWER than the month before but still about 8% higher than the Listing Price.
Average days on market in San Francisco was 30 for the month of May (37 days for the month of April).
Inventory as of today June, 4th – 888 properties for sale in San Francisco (vs 839 on May 5th).
Single-Family Homes 288
Condo/Coop/TIC/Loft 469
2-4 Units 100
5+ units 31
total – 888.

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 2 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!
Sold in San Francisco
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

Leave a Reply

Your email address will not be published. Required fields are marked *