December sales data further supported an overall trend for San Francisco’s housing market in 2017: 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 was equal to $1.475M, a +13.3% increase compared to December 2016. MSP for Condo/TIC/Coop properties reached a historic high of $1.135M, a +12.3% increase v. the same time last year.
72% of single family homes sold above their list price and those that fell into this category received 114% of their asking price. As a way of comparison, 56% of Condo/TIC/Coop properties sold above their asking price, receiving 104% of their list price.
Existing housing and economic indicators give reason for optimism, with or without new federal tax legislation.
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.