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San Francisco Association of Realtors recently released its Annual Report for 2018, which shows the following housing market trends: 

  1. 2018 median sales price (“MSP”) for single family properties reached $1.6m, which is +13% higher v. 2017.   MSP for Condo/TIC/Coop properties was equal to $1.2m, a +5% increase compared to 2017;
  2. On average, single family homes received 116% of their list price and Condo/TIC/Coop properties – 106%, spending 23 and 32 days on market, respectively;
  3. In terms of property size v. list price, there was the following dynamic - properties 999 sq.ft. or less sold +6% above asking, 1,000-1,999 sq.ft.: +12%; 2,000-2,999 sq.ft.: +10%, and 3,000 sq.ft.+ listings sold 2% above asking;
  4. Undoubtedly, market trends differ depending on San Francisco Realtor District (there are 10) and the neighborhoods within them.  While District 10 (Southeast: Outer Mission, Mission Terrace, Excelsior, Portola, Bayview, Silver Terrace, Hunters & Candlestick Point, Bayview Heights, Little Hollywood, Visitation Valley, Crocker Amazon) exhibited the highest appreciation in SF (+12% v. 2017), District 8 (Northeast: North Waterfront, North Beach, Russian Hill, Telegraph Hill, Nob Hill, Financial District, Downtown, Civic Center, Tenderloin) properties actually lost -2.2% v. the same time period.   To view housing market trends per each of the 10 Realtor Districts, please refer to pp. 9-10 of the Report.

A few noteworthy points from the Report:

  • 2018 delivered a more seasoned prudence toward residential real estate - housing affordability achieved a ten-year low - homebuyers, now steeped in several years of rising prices and low inventory, became more selective in their purchase choices;
  • Looking strictly at market fundamentals, recent Fed and GDP changes will not cause a dramatic shift away from the current state of the housing market – the booming sales at increased prices over the last several years may not be the same thrill ride to observe in 2019, but a long-awaited increase in inventory is something positive to consider, even if it arrives in the form of shrinking demand amidst rising interest rates;
  • The biggest potential problem for residential real estate in 2019 might be human psychology – a fear of buying at the height of the market could create home purchase delays by a large pool of first-time buyers, thus creating an environment of declining sales;
  • If the truth of a positive economic outlook coupled with responsible lending practices and more inventory captures the collective American psyche, the most likely outcome for 2019 is market balance

For further details, please download a copy of the enclosed Annual Report.  Should you have any questions regarding local real estate market, please don’t hesitate to contact me.

With best wishes,

KATE BATZOGLOU

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: 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.

 

November 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 was equal to $1.442M, a -3.5% drop compared to November 2017.  MSP for Condo/TIC/Coop properties was equal to $1.2M, a -3% decrease v. the same time last year
  • 75% of single family homes sold above their list price and those that fell into this category received 111.6% of their asking price.  As a way of comparison, 54% of Condo/TIC/Coop properties sold above their asking price, receiving 104% of their list price
  • Months Supply of Inventory (“MSI”) increased 16.7% for single family homes but was down 4% for Condo/TIC/Coop properties

Of note from the report: 

  • Although Freddie Mac recently reported that the 30-year fixed rate is at its highest average in 7 years, reaching 4.94%, average rates were 5.97% 10 years ago, 6.78% 20 years ago and 10.39% 30 years ago;
  • Nevertheless, affordability concerns are causing a slowdown in home price growth while price reductions are becoming more common;
  • Builders are showing caution by breaking ground on fewer home construction projects in the face of rising mortgage rates and fewer showings

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

With best wishes,

KATE BATZOGLOU

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.

 

Excellent presentation by California Association of Realtors' SVP & Chief Economist Leslie Appleton-Young on 2019 CA housing market outlook and economic forecast (went to her talk today).  

Key takeaways re SF Bay Area housing market:

  • Sales tapering
  • Price gains moderating
  • Active listings increasing
  • Price reductions increasing
  • Time on market increasing

On a more granular level, take a look at the following important slides:  California Buyers on the Sidelines (p. 24); SF Bay Area Sales Down From Last Year (p. 48-49); Home Prices Still Rising – Gains Moderating (p. 31); Compare 2007 Peak v. Current Pricing (p.  34); Median Prices (p. 50), Unsold Inventory (p.51),  Days on Market Increase (p. 52); Rising Rates Hit Pocketbooks Hard (pp. 13-15); Concerns Going Forward (p. 17).

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

With best wishes,

KATE BATZOGLOU

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.

 

October 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 $1.6M, a +1.6% increase compared to October 2017.  MSP for Condo/TIC/Coop properties was equal to $1.223M, a +7.3% increase v. the same time last year
  • 82% 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, 68% of Condo/TIC/Coop properties sold above their asking price, receiving 108% of their list price
  • Months Supply of Inventory (“MSI”) increased +14% for single family units (2.5 MSI) and +3.4% for Condo/TIC/Coop properties (3 MSI)

Of note from the Report: 

  1. A trend of market balance is emerging as we approach the end of 2018 – prices are still rising in most areas, and the number of homes for sale is still low, but there is a general shrinking of year-over-year percentage change gaps in sale, inventory and prices;
  2. Stock markets experienced an October setback, but that does not necessarily translate to a decline in the real estate market
  3. The national unemployment rate remains low and homebuilder confidence remains positive which are good signs for the housing market

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

 

With best wishes,

KATE BATZOGLOU

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.

 

 

September 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 $1.507M, a +14.2% increase compared to September 2017.  MSP for Condo/TIC/Coop properties was equal to $1.165M, a remarkable +13.9% increase v. the same time last year
  • 82% 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, 63% of Condo/TIC/Coop properties sold above their asking price, receiving 107% of their list price
  • Months Supply of Inventory (“MSI”) increased 12.5% for single family units but was down 12.1% for Condo/TIC/Coop properties

Of note from the Report: 

  1. Rising prices and interest rates coupled with salary stagnation and a generational trend toward home purchase delay or even disinterest could create an environment of declining sales
  2. Tracking reputable news sources for housing market predictions makes good sense
  3. By the numbers, we continue to see pockets of unprecedented price heights combined with low days on market and an economic backdrop conducive to consistent demand

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

With best wishes,

KATE BATZOGLOU

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.

 

August 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 $1.55M, an +12.5% increase compared to August 2017.  MSP for Condo/TIC/Coop properties was equal to $1.249M, a +6.3% increase v. the same time last year

·    82% 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, 59% of Condo/TIC/Coop properties sold above their asking price, receiving 106% of their list price.  

Of note from the report:

  • Rising home prices, higher interest rates and increased building material costs have pressured housing affordability to a ten-year low, per NAR;
  • The fact remains that the trends do not yet support a dramatic shift away from what has been experienced over the last several years;
  • Housing starts are performing admirable, prices are still inching upward, supply remains low and consumers are optimistic

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

With best wishes,

KATE BATZOGLOU

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.

 

Recently released report by the Mark Company indicates that new condo prices grew +4% compared to June 2017 and are now equal to $1,223 per square foot.  Inventory dropped -38% compared to the same time last year. 

As for condominium resales, their prices increased +8% y-o-y, equaling to $1,196 per square foot.

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

*The Mark Company Condominium Pricing Index uses a proprietary quantitative method to model the price per square foot of a new 10th floor, 1,000 SF condominium. 

With best wishes,

KATE BATZOGLOU

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.

June 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 $1.622M, an +11% increase compared to June 2017.  MSP for Condo/TIC/Coop properties was equal to $1.175M, a +4% increase v. the same time last year
  • 89% 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, 68% of Condo/TIC/Coop properties sold above their asking price, receiving 107% of their list price.  

Of note from the Report:

  • While the strength of U.S. economy has helped purchase offers pile up, the Fed recently increased the federal funds rate by 0.25%, marking the second rate hike this year and seventh since later 2015
  • Buyers often react by locking in at the current rate ahead of assumed higher rates later – when this happens, accelerated price increases are possible, causing further strain on affordability
  • Inventory may be persistently lower in year-over-year comparisons, and home prices are still more likely to rise than not, but sales and new listings may finish the summer on the upswing

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

With best wishes,

KATE BATZOGLOU

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.

Recently released report by the Mark Company indicates that new condo prices grew +2% compared to May 2017 and are now equal to $1,180 per square foot.  Inventory dropped -38% compared to the same time last year. 

As for condominium resales, their prices increased +8% y-o-y, equaling to $1,172 per square foot.

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

*The Mark Company Condominium Pricing Index uses a proprietary quantitative method to model the price per square foot of a new 10th floor, 1,000 SF condominium. 

With best wishes,

KATE BATZOGLOU

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.

May 2018 housing stats report was recently released by SF Association of Realtors.  It shows the following local real estate trend

  • Median Sales Price (“MSP”) of single family homes reached $1.62M, a +10% increase compared to May 2017.  MSP for Condo/TIC/Coop properties was equal to $1.265M, a +8% increase v. the same time last year 
  • 84% 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 109% of their list price.  

Of note from the Report: 

ü  Prospective home buyers should expect a competitive housing market for the next several months – with payrolls trending upward and unemployment trending downward in an extensive string of positive economic news, demand remains quite strong

ü  Gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later – buyers need to remain watchful of news listings and make offers quickly

ü  Strong Seller’s market situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals compared to a decade ago

 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.

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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Contact Kate

 

1801 Lombard Street, San Francisco, CA 94123

Mobile: +1.415.601.0926

Email: ekaterina.batz@gmail.com

Associate Broker

CalBRE No:  01445813

 

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