Q3 2019 WRAP-UP

Single-Family Homes

The San Francisco market for single family homes saw growth in the median sale price to the tune of 1.8% compared with Q3 of last year. At the same time, the price per square foot increased by 4.3% to $991. The median market time remains unchanged at an extremely competitive 14 days. Eight out of ten homes sold over their list price, with purchasers paying an average of 14.8% over asking. While there has been an influx of new listings in the past several weeks, inventory levels are actually 15% less than the same time last year.

As reported by CNBC per the National Association of Realtors, the pending home sales index rose 1.6% in August, compared with July, and was 2.5% higher year over year. This index measures signed contracts to buy existing homes. August’s gain reverses a slump in July and is likely fueled by falling mortgage rates. NAR’s chief economist was quoted as saying, ‘The notable sales slump in the West region over recent years appears to be over. Rising demand will reaccelerate home price appreciation in the absence of more supply.’

Recent notable happenings in San Francisco include the opening of Chase Center, the central SoMa plan moving forward with residential developments, and an increase in tourism (according to the San Francisco Travel Association). The current average for a 30 year fixed rate mortgage is 3.65% (per FreddieMac.com) which is 1.06% lower than the same time last year, giving potential buyers more purchasing power.

YEAR-OVER-YEAR: SINGLE FAMILY RESIDENCES

MONTH-OVER-MONTH: SINGLE FAMILY RESIDENCES

 

Condominiums and TIC's

The median Condominium/TIC/Stock Cooperative sale price jumped 7.1% year-over-year to $1,285,000 with the median price per square foot increasing 3.5% to $1,170. Common interest properties are also selling quicker than Q3 of last year; the median days on market shed 3 days down to 17. Nearly two-thirds of properties sold over asking, with purchasers paying an average of 6.6% over asking. Inventory levels are 3% less than the same time last year, with 713 properties currently listed for sale.

YEAR-OVER-YEAR: CONDOMINIUMS AND TIC

MONTH-OVER-MONTH: CONDOMINIUMS/TIC


MEDIAN AREA VALUES

 

MEDIAN PROPERTY VALUES - SINGLE FAMILY HOMES

MEDIAN PROPERTY VALUES - CONDOMINIUMS/TIC

For past San Francisco market updates, please visit Vanguard Properties' archive.


Top 5 - Q3 2019

 

Top Five Sales: Single-Family HoMES

140 Sea Cliff Ave | Sea Cliff   $18,000,000   $2,855/SQ. FT.  5 bed/5.5 bath  6,305 SQ. FT.

140 Sea Cliff Ave | Sea Cliff

$18,000,000

$2,855/SQ. FT.

5 bed/5.5 bath

6,305 SQ. FT.

2561 Washington St | Pacific Heights   $9,150,000   $1,673/SQ. FT.  5 bed/3.5 bath  5,469 SQ. FT.

2561 Washington St | Pacific Heights

$9,150,000

$1,673/SQ. FT.

5 bed/3.5 bath

5,469 SQ. FT.

3990 Washington St | Presidio Heights   $9,100,000   $910/SQ. FT.  6 bed/6.5 bath  10,000 SQ. FT.

3990 Washington St | Presidio Heights

$9,100,000

$910/SQ. FT.

6 bed/6.5 bath

10,000 SQ. FT.

367 Liberty St | Dolores Heights   $8,700,000   $1,804/SQ. FT.  5 bed/5 bath  4,822 SQ. FT.

367 Liberty St | Dolores Heights

$8,700,000

$1,804/SQ. FT.

5 bed/5 bath

4,822 SQ. FT.

2536 Greenwich St | Cow Hollow   $8,250,000   $1,371/SQ. FT.  4 bed/6.5 bath  6,016 SQ. FT.

2536 Greenwich St | Cow Hollow

$8,250,000

$1,371/SQ. FT.

4 bed/6.5 bath

6,016 SQ. FT.

 

Top Five Sales: Condominiums / TIC’s / Coop’s

2121 Webster St #609 | Pacific Heights   $5,750,000   $2,401/SQ. FT.  3 bed/3 bath  2,395 SQ. FT.

2121 Webster St #609 | Pacific Heights

$5,750,000

$2,401/SQ. FT.

3 bed/3 bath

2,395 SQ. FT.

1635 Green St #5D | Pacific Heights   $5,340,000   $1,709/SQ. FT.  3 bed/3 bath  3,125 SQ. FT.

1635 Green St #5D | Pacific Heights

$5,340,000

$1,709/SQ. FT.

3 bed/3 bath

3,125 SQ. FT.

1170 Sacramento St #5D | Nob Hill   $4,500,000   2 bed/2.5 bath

1170 Sacramento St #5D | Nob Hill

$4,500,000

2 bed/2.5 bath

488 Folsom #4402 | South Beach   $4,175,000   $2,211/SQ. FT.  3 bed/3 bath  1,888 SQ. FT.

488 Folsom #4402 | South Beach

$4,175,000

$2,211/SQ. FT.

3 bed/3 bath

1,888 SQ. FT.

1170 Sacramento St #5D | Pacific Heights   $4,023,956   $1,257/SQ. FT.  2 bed/3.5 bath  3,200 SQ. FT.

1170 Sacramento St #5D | Pacific Heights

$4,023,956

$1,257/SQ. FT.

2 bed/3.5 bath

3,200 SQ. FT.