November 2017 sales further establish an overall trend for San Francisco’s housing market this year: low inventory combined with homes selling in fewer days for higher prices.
Recently released report by SF Association of Realtors shows the following trends:
Median Sales Price (“MSP”) of single family homes is now equal to $1.5M, a +10.9% increase compared to November 2016. MSP for Condo/TIC/Coop properties reached a historic high of $1.237M, a +12.3% increase v. the same time last year.
81% of single family homes sold above their list price and those that fell into this category received 116% of their asking price. As a way of comparison, 59% of Condo/TIC/Coop properties sold above their asking price, receiving 105% of their list price.
Proposed tax legislation could have ramifications on housing. 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.