San Francisco Market Update

San Francisco Market Update April 2016

The overall Q1 2016 median sale price rose six-percent quarter-over-quarter to $1,160,000, while the number of sales declined by twelve percent. The top ten percent of the market (> $2.325MM) saw five-percent growth in the median sale price, and properties in this category took about a week less to sell than the overall market. On the other end of the spectrum, single family homes in the Southwest section of the City have seen median home price appreciation north of 25% quarter-over-quarter.

The local economy continues to prosper, with recent unemployment figures clocking in at 3.3%. The Wall Street Journal recently reported that US Venture Funds have collected about $13 billion in the first quarter, the largest total since 2000. It is anticipated that there will be a number of technology IPOs this year, depending on stock market volatility.

Median Sale Price     

March 2016 Median

Median Neighborhood Values

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March 2016 Top Five Sales

San Francisco Market Update March 2016

The Middle Heats Up

February 2016 figures showed particular strength in the single family home sector. Specifically, the middle one-third of the market ($1.1MM - $1.6MM) experienced nearly double the level of appreciation, as compared to the top- and bottom-third of the market. The middle also saw the lowest Days on Market (13 days), and the highest sale-to-list price ratio (117%). 

The national economy continues to show signs of strength, with recent reports showing better-than-expected gains in private sector employment. Furthermore, recent gains in oil prices helped global equity shares hit a two-month high. European and Asian equities rose on anticipation of further monetary easing in Europe, and stimulus measures in China. San Francisco Fed President John Williams stated that the U.S. economy is weathering difficulties in international markets, and that there is no tangible risk of a recession. In light of recent positive reports on the economy, it is expected that the Fed will resume their course of rate hikes this year.     

Median Sale Price

February 2016 Median

Median Neighborhood Values

Condominiums:

Single Family Homes

If you are interested in buying or selling in San Francisco, The Costa Group can help.

San Francisco Market Update for February 2016

Solid Economic Indicators

The first month of the year saw continued upward pressure on pricing, despite headwinds in the international economy. The Citywide January 2016 median price grew 16% year-over-year, while sales volume decreased slightly, by eight-percent. As expected, inventory levels have increased substantially, rising about eighty-percent versus the first week of January. This dramatic rise in inventory is partly accounted for by a relisting of properties which did not sell in Q4 2015.

San Francisco continues to post near-record low unemployment rates, with the most recent figure clocking in at 3.3%. Recent turmoil in international markets has placed some doubt on the continued strength of the local economy. In a recent opinion piece, San Francisco Fed President John Williams stated that “...the economy still has a good head of steam...and strong fundamentals point to continued strength going forward.” The upcoming spring selling season is expected to be fruitful. Between January and May of last year, the median sale price grew by over 30 percent. Interest rates and lending programs continue to be favorable to the growth of the market.   

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If you are in the market to buy or sell in San Francisco, The Costa Group can help. We have extensive knowledge of the market, the neighborhoods and will prove ourselves a valuable member of your team.

Fall San Francisco Real Estate Market Performs

The number of closings in October increased by nearly 40 percent versus the prior month, while total dollar volume increased by over 50 percent. The majority of properties (74 percent) sold in under 30 days and received 12 percent over the list price, on average. Tech Sector performance continues to fuel the steadfast demand. As an example, it is estimated that Bay Area venture capital funding is up approximately 25 percent year-to-date. Stock Markets have also made strides, with Reuters reporting that “The gains on the first trading day of the month followed the best monthly performance of the major indexes in four years in October.” The prospect of a December rate hike remains a possibility.

MEDIAN SALE PRICE

OCTOBER 2015 MEDIAN

CONDO/TIC | $1,100,000 | + 10% year-over-year

Single Family | $1,300,000 | + 9% year-over-year

 

MEDIAN NEIGBHORHOOD VALUES

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Please Contact Franck Costa & Sara Werner Costa of The Costa Group, for your next home purchase or sale in San Francisco or Marin County.

San Francisco and Marin County Real Estate | Top 1% of Realtors | Award Winning |  415.730.2604 | costagroup@vanguardsf.com