11 April

March 2018: SF Residential Housing Market Trends (resales, all property types) Featured

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

·         Median Sales Price (“MSP”) of single family homes reached a high of $1.687M, a remarkable +25% increase compared to March 2017.  MSP for Condo/TIC/Coop properties was $1.25M, a +10% increase v. the same time last year – notably, prices for these property types have been volatile as last month they exhibited -6.8% drop (to $1.104M) v. February 2017

·     80% of single family homes sold above their list price and those that fell into this category received 118% of their asking price.  As a way of comparison, 58% of Condo/TIC/Coop properties sold above their asking price, receiving 107% of their list price.  

Of note from the Report: 

1.  Housing is proving its resiliency in an increasingly improving economy

2.  The Federal Reserve have risen its key short-term interest rate by .25% for the sixth time since December 2015 and at least two more rate increases are expected this year

3.  Borrowing money will be more expensive, particularly for home equity loans, credit cards and adjustable rate mortgages, but rising wages and a low unemployment rate would seem to indicate that we are prepared for this

4. Although mortgage rates have risen to their highest point in 4 years, they still remain historically low

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

With best wishes,

KATE BATZOGLOU (STANTON)

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 452 times Last modified on Wednesday, 11 April 2018 20:10
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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.

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Address: 1801 Lombard Street, San Francisco, CA 94123

Mobile: +1.415.601.0926

Email: ekaterina.stanton@gmail.com

Associate Broker

CalBRE No:  01445813

 

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