Year-to-date performance has been stronger in 2017, as compared to last year. The overall transaction volume is up by 9% to approximately $3.7B, as compared to $3.4B during the same period in 2016. The overall median sale price has risen 4% year-to-date, coming in at $1.25MM. The median market time is now measuring at 19 days, as compared to 24 days last year. Sub markets performing particularly well include single family homes in MLS District 5. This category which includes neighborhoods such as Glen Park, Noe Valley, Castro and Cole Valley saw the year-to-date median increase 15% to $2.4MM. The average 30-year fixed mortgage rate is also faring better, with the latest reading coming in at 3.9%, as compared to 4.15% in January of this year. Inventory levels remain low, measuring at about a 1-month supply, much less than the 6-month level widely regarded as the equilibrium. It is expected to be an active summer selling season, with already over 100 properties going into pending or contingent status since July 1st.
MEDIAN SALE PRICE
MEDIAN NEIGHBORHOOD VALUES
Pacific/Presidio Heights boasts the peak list price and price per square foot for condos with Russian Hill a close second. When it comes to percentage over asking price, Bernal Heights/Glen Park condo sellers are getting 10% above list, with Cole Valley/Haight Ashbury and Castro/Duboce Triangle condominiums fetching 9% over asking.
Sunset, Excelsior/Portola and Ingleside Terrace/Lakeside are the three top boroughs when it comes to percentage over list price for single family homes, with 19% for Sunset and 15% for both Excelsior/Portola and Ingleside Terrace/Lakeside. Pacific/Presido Heights continues to top the list with the highest price point.
TOP FIVE SALES
SINGLE FAMILY HOMES