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21 June

San Francisco Housing Market Trends - May 2018 Featured

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May 2018 housing stats report was recently released by SF Association of Realtors.  It shows the following local real estate trend

  • Median Sales Price (“MSP”) of single family homes reached $1.62M, a +10% increase compared to May 2017.  MSP for Condo/TIC/Coop properties was equal to $1.265M, a +8% increase v. the same time last year 
  • 84% of single family homes sold above their list price and those that fell into this category received 120% of their asking price.  As a way of comparison, 69% of Condo/TIC/Coop properties sold above their asking price, receiving 109% of their list price.  

Of note from the Report: 

ü  Prospective home buyers should expect a competitive housing market for the next several months – with payrolls trending upward and unemployment trending downward in an extensive string of positive economic news, demand remains quite strong

ü  Gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later – buyers need to remain watchful of news listings and make offers quickly

ü  Strong Seller’s market situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals compared to a decade ago

 For more details, please download the enclosed copy of the report.   

With best wishes,

KATE BATZOGLOU (STANTON)

Associate Broker, Pricing Strategy Advisor (PSA®)

CalBRE No:  01445813

This email address is being protected from spambots. You need JavaScript enabled to view it.

www.sfbykate.com 

c: +1 (415) 601-0926 

Disclaimer:  Information provided herein was derived from public sources deemed reliable, it is intended for information purposes only, may contain errors and is subject to revision.

Read 316 times Last modified on Thursday, 21 June 2018 14:39
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