Recently released September 2017 housing market report by SF Association of Realtors shows the following trends:
Median Sales Price (“MSP”) of single family homes is now equal to $1.337M, a +10% increase compared to September 2016. MSP for Condo/TIC/Coop properties is $1.104M, a +8% increase v. the same time last year.
86% of single family homes sold above their list price and those that fell into this category received 116.5% of their asking price. As a way of comparison, 54% of Condo/TIC/Coop properties sold above their asking price, receiving 105% of their list price.
I find this except from the report worthy of a separate note: “Although desirous buyers are out on increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving”.
For more details, please download the enclosed copy of the report.
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.