April 2018 housing stats report was recently released by SF Association of Realtors. It shows the following local real estate trends:
- Median Sales Price (“MSP”) of single family homes reached $1.65M, an impressive +20% increase compared to April 2017. MSP for Condo/TIC/Coop properties was equal to $1.25M, a +12% increase v. the same time last year
- 78% of single family homes sold above their list price and those that fell into this category received 120% of their asking price. As a way of comparison, 69% of Condo/TIC/Coop properties sold above their asking price, receiving 106% of their list price.
Of note from the Report:
- We are finally beginning to see some upward movement in new listings – there may not be massive increases in inventory from week to week, but a longer-term trend
- Currently low inventory should continue to create a competitive situation for buyers, causing price increases over the next few months
- Being aware of pending mortgage rate increases is once again in fashion
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
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.