12 July

June 2018 - SF Housing Market Trends (resales) Featured

Written by 

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

  • Median Sales Price (“MSP”) of single family homes reached $1.622M, an +11% increase compared to June 2017.  MSP for Condo/TIC/Coop properties was equal to $1.175M, a +4% increase v. the same time last year
  • 89% 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, 68% of Condo/TIC/Coop properties sold above their asking price, receiving 107% of their list price.  

Of note from the Report:

  • While the strength of U.S. economy has helped purchase offers pile up, the Fed recently increased the federal funds rate by 0.25%, marking the second rate hike this year and seventh since later 2015
  • Buyers often react by locking in at the current rate ahead of assumed higher rates later – when this happens, accelerated price increases are possible, causing further strain on affordability
  • Inventory may be persistently lower in year-over-year comparisons, and home prices are still more likely to rise than not, but sales and new listings may finish the summer on the upswing

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

With best wishes,

KATE BATZOGLOU

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 335 times Last modified on Thursday, 12 July 2018 22:02
Rate this item
(1 Vote)

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.



Anti-spam confirmationJoomla CAPTCHA

About Kate

As a long-term resident of San Francisco, Kate is well familiar with the city’s past and present. With her professional background and deep knowledge of the local housing market, Kate is in the position to best assist with your real estate needs. Should you be looking for a recommendation on the upcoming cultural or social events and/or if you need a trusted local real estate advisor, ask Kate – San Francisco is her HOME.

Kate's Twitter&Facebook streams

Contact Kate

Address: 1801 Lombard Street, San Francisco, CA 94123

Mobile: +1.415.601.0926

Email: ekaterina.stanton@gmail.com

Associate Broker

CalBRE No:  01445813

 

Subscribe to Newsletter

Receive monthly updates on the upcoming cultural and social events as well as the latest residential real estate market statistics.