Q2 2019 WRAP-UP

Single-Family Homes

The median sale price of single-family homes in San Francisco continues to rise this quarter due to the combination of falling mortgage rates, high demand, and low inventory levels. The quarter closed out with homes at a median sale price of $1.7M, representing a near 5% increase from Q2 of 2018. The median sale price continues to rise into June 2019 recording at $1,789,000, a 5.2% increase from May 2019.

Median days on the market for the quarter is highly competitive at 14 days; this is comparable to 2018. Nearly eight out of ten homes sold over list price, with purchasers paying an average of 13.7% over asking price. There are currently 197 single family homes listed for sale in San Francisco ranging in price from $650K to $45M.

Mortgage rates are presently at 31-month lows with the current rate for a 30-yr fixed rate mortgage at 3.73% (per FreddieMac.com). These low rates give purchasers more spending power than at any time over the last two years. The unemployment rate in San Francisco (per LaborMarketInfo.edd.ca.gov) dropped again in May 2019 to 1.8%, down from 2.0% in April 2019. The combination of these factors makes this a great time to purchase a home.

YEAR-OVER-YEAR: SINGLE FAMILY RESIDENCES

MONTH-OVER-MONTH: SINGLE FAMILY RESIDENCES

 

Condominiums and TIC's

Condominiums also saw a modest increase in median sale price by 2% on a year-over-year basis. Similarly, the price per square foot increased by 2.9% up to $1,166. The median market time remains consistent with last year at a highly competitive 15 days. Six out of ten homes sold over their list price, with purchasers paying an average of 6.6% above asking. There are currently 378 condominiums/TIC/Coops listed for sale in San Francisco (excluding BMRs and senior housing), ranging in price from $399K to $17.5M.

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 - Q2 2019

 

Top Five Sales: Single-Family HoMES

2900 Vallejo | Pacific Heights   $27,000,000   $2,783/SQ. FT.  6 bed/8.5 bath  9,702 SQ. FT.

2900 Vallejo | Pacific Heights

$27,000,000

$2,783/SQ. FT.

6 bed/8.5 bath

9,702 SQ. FT.

2833 Vallejo St | Pacific Heights   $17,000,000   $2,810/SQ. FT.  4 bed/6.5 bath  6,050 SQ. FT.

2833 Vallejo St | Pacific Heights

$17,000,000

$2,810/SQ. FT.

4 bed/6.5 bath

6,050 SQ. FT.

3001 Pacific Ave | Pacific Heights   $15,850,000   $1,162/SQ. FT.  8 bed/6.5 bath  13,643 SQ. FT.

3001 Pacific Ave | Pacific Heights

$15,850,000

$1,162/SQ. FT.

8 bed/6.5 bath

13,643 SQ. FT.

2324 Pacific Ave | Pacific Heights   $14,000,000   $1,236/SQ. FT.  8 bed/8.5 bath  11,328 SQ. FT.

2324 Pacific Ave | Pacific Heights

$14,000,000

$1,236/SQ. FT.

8 bed/8.5 bath

11,328 SQ. FT.

2714 Pacific Ave | Pacific Heights   $11,900,000   $2,414/SQ. FT.  4 bed/4.5 bath  4,930 SQ. FT.

2714 Pacific Ave | Pacific Heights

$11,900,000

$2,414/SQ. FT.

4 bed/4.5 bath

4,930 SQ. FT.

 

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

1731 Powell St #502 | North Beach   $6,800,000   $3,215/SQ. FT.  3 bed/3.5 bath  2,115 SQ. FT.

1731 Powell St #502 | North Beach

$6,800,000

$3,215/SQ. FT.

3 bed/3.5 bath

2,115 SQ. FT.

1450 Post St #306 | Presidio Heights   $6,253,000   4 bed/3.5 bath

1450 Post St #306 | Presidio Heights

$6,253,000

4 bed/3.5 bath

1650 Broadway #PH1 | Pacific Heights   $5,600,000   $2,932/SQ. FT.  3 bed/2.5 bath  1,910 SQ. FT.

1650 Broadway #PH1 | Pacific Heights

$5,600,000

$2,932/SQ. FT.

3 bed/2.5 bath

1,910 SQ. FT.

2127 Broadway St #6 | Pacific Heights   $5,500,000   $2,004/SQ. FT.  3 bed/3.5 bath  2,745 SQ. FT.

2127 Broadway St #6 | Pacific Heights

$5,500,000

$2,004/SQ. FT.

3 bed/3.5 bath

2,745 SQ. FT.

1925 Gough St #22 | Pacific Heights   $5,200,000   $1,211/SQ. FT.  4 bed/3.5 bath  4,295 SQ. FT.

1925 Gough St #22 | Pacific Heights

$5,200,000

$1,211/SQ. FT.

4 bed/3.5 bath

4,295 SQ. FT.