June 2017 housing market report by SF Association of Realtors shows the following local real estate trends:
Median Sales Price (“MSP”) of single family homes is now equal to $1.468M, a 10.8% increase compared to the same time last year. On the other hand, MSP for Condo/TIC/Coop properties is now equal to $1.145M, a -2.6% decrease v. June 2016.
80.3% of single family homes sold above their list price and those that fell into this category received 117% of their asking price. As a way of comparison, 60.6% of Condo/TIC/Coop properties sell above their asking price, receiving 106% of their list price.
Summer months are generally slower in terms of housing market activity but post-Labor Day time period typically brings a surge of listings and stats for the subsequent months will help to further determine market trends.
For more details, please download the enclosed copy of the report. Please contact me should you have any questions regarding local real estate market
With best wishes,
Associate Broker, Pricing Strategy Advisor (PSA®)
CalBRE No: 01445813
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.