San Francisco Real Estate Market | March 2020

SAN FRANCISCO REAL ESTATE

MARCH 2020 REPORT

There is a lot going on in the world right now and we won’t pretend to know how things will turn out or affect the local real estate market over the next few months. In the meantime, this report will look at the most recent data available, though the impact of the wild volatility in the financial markets and the unfolding situation with the coronavirus has yet to show up in reliable statistics. Typically, the spring selling season is the most active of the year.

One positive for real estate is that mortgage interest rates hit a historic low in early March, as illustrated below, and rates play a huge role in housing affordability.

As always, please don’t hesitate to let me know if I can be of assistance in any way. I wish you and yours safety and health in these challenging days.

Short-Term & Long-Term Trends
in Median Home Sales Prices

San Francisco Real Estate Market  March

San Francisco Real Estate Market  March

San Francisco Real Estate Market  March

Median Dollar per Square Foot Values

San Francisco Real Estate Market  March

San Francisco Real Estate Market  March

Home Sales Breakdown

San Francisco Real Estate Market  March

Listing Inventory vs. Sales since 2005

San Francisco Real Estate Market  March

San Francisco Real Estate Market Update

09 MAR SAN FRANCISCO REAL ESTATE MARKET | MARCH 2020

SAN FRANCISCO REAL ESTATE

MARCH 2020 REPORT

There is a lot going on in the world right now and we won’t pretend to know how things will turn out or affect the local real estate market over the next few months. In the meantime, this report will look at the most recent data available, though the impact of the wild volatility in the financial markets and the unfolding situation with the coronavirus has yet to show up in reliable statistics. Typically, the spring selling season is the most active of the year.

One positive for real estate is that mortgage interest rates hit a historic low in early March, as illustrated below, and rates play a huge role in housing affordability.

As always, please don’t hesitate to let me know if I can be of assistance in any way. I wish you and yours safety and health in these challenging days.

Short-Term & Long-Term Trends
in Median Home Sales Prices

  

Median Dollar per Square Foot Values

Mortgage Interest Rates Hit New All-Time Low

Home Sales Breakdown

Listing Inventory vs. Sales since 2005

Trends in Overbidding Asking Price

Overbidding remains common and at high levels for house listings in particular, however part of this is due strategic under-pricing on the part of listing agents. The supply and demand dynamic for condos has been affected over the last few years by new-condo inventory coming on market.

San Francisco Real Estate Market  March

The Extreme Seasonality of Real Estate Markets

After the mid-winter doldrums, we would typically start seeing a huge jump in sales as the spring market gets underway. Remember that sales are about a month behind the market, i.e. sales in one month mostly reflect new listings and offers accepted in the previous month.

San Francisco Real Estate Market  March

Home Sales & Values by San Francisco District

San Francisco Real Estate Market  March

San Francisco Real Estate Market  March

San Francisco Real Estate Market  March

District Home Price Trends

There are 70+ neighborhoods in ten Realtor districts in San Francisco – too many to cover in one newsletter. Below are some representative snapshots, but we also have trend data on every neighborhood in the city, which can be supplied upon request.

San Francisco Real Estate Market  March

San Francisco Real Estate Market  March

San Francisco Real Estate Market  March

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 Francisc 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.
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March 9, 2020
Market Updates
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