San Francisco Real Estate December 2019 Market Snapshots

05 Dec San Francisco Real Estate December 2019 Market Snapshots

San Francisco Real Estate Market Snapshots

December 2019

Bay Area Home Prices & Market Sizes

 

When the media reports on the “Bay Area median home price,” it’s worth remembering that SF is a relatively small market compared to the big 3 counties.

 

Appreciation in Very Expensive Markets

Based on the calculations of an algorithm created to track long-term price changes, this next chart looks at percentage appreciation since 2012 in the most expensive markets of 5 Bay Area Counties. (In Marin, Tiburon, a very expensive, but not the most expensive market in the county, is graphed due to data issues.) This chart does not delineate prices, which vary hugely, only estimated percentage home price changes over time.

According to this algorithm, prices in these most expensive markets have generally declined from recent peaks in 2018.

Bay Area Ultra-Luxury Home Markets –
Active Listings vs. 12 Months Sales

SF has the third largest market for homes of $5,000,000+ in the Bay Area.

Market Dynamics & Seasonality –
New Listings & Price Reductions

The market is now deep into its seasonal plunge in activity, which hits its nadir in December. (This chart is updated through October. November saw its usual big drop in new listing activity.)

The percentage of listings reducing price in October – typically the peak month for price reductions – ticked up a little year over year, to its highest point since the recovery began in 2012.

 

Home Prices & Market Statistics by SF District

 

Median House Prices by Realtor District

As always, these prices should be considered very general approximations of prices in complex district markets containing homes of widely varying size and quality.

 

Median Condo Prices by Realtor District 

Market Statistics by Realtor District

As mentioned in previous reports, market dynamics in San Francisco are often – but not always – separated by price segment as much as by neighborhood/district location. More expensive segments not unusually have somewhat softer supply and demand dynamics. However, District 5 – the greater Noe, Eureka & Cole Valleys district – one of the city’s more expensive districts, has been bucking that trend in 2019.

Districts dominated by condo sales also typically have softer dynamics than those dominated by house sales.

 

Feel free to connect us to anyone you know who has  questions about real estate in general. If we can’t help them, we know someone who can.

Call us at 415-735-5867 for a no-obligation consultation. You can also email us at info@ruthkrishnan.com.

It is impossible to know how median and average value statistics apply to any particular home without a specific comparative market analysis. These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.
Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.