SAN FRANCISCO MARKET UPDATE
AUGUST 2020 WRAP-UP | SINGLE FAMILY RESIDENCES
The San Francisco market was very active last month even in the face of the harrowing fires. Looking at yearly data, significantly more listings went into contract across both single-family homes and condominiums.
Single-family homes continued their rise with the median sale price recording 3.8 percent higher and the median price per square foot increasing 2.5 percent. They also sold slightly faster than last year with the median days on market reducing by a day. That said, there was a softening in the percent of single-family homes that sold over list price and the average percent of list price received.
Though there were 14 percent more sales last month, there is much more inventory in the condominium market. The median sale price and the median price per square foot both experienced a decrease last month. They also stayed on the market longer with the median days on market reaching 31 days. The condominium market also felt the softening in the percent of listings that sold over list price and the average percent of list price received.
Mortgage rates remain steady with the national average for a 30-year fixed recording at 2.93 percent last week. FreddieMac reported, 'Mortgage rates have remained effectively flat or at near-record lows for the last month. However, there are some interesting compositional shifts as the 10-year Treasury rate has increased modestly over the past month while mortgage spreads have declined. Spreads may decline even further but the rise in Treasury rates will make it difficult for mortgage rates to fall much more over the next few weeks.'
Single-family homes continued their rise with the median sale price recording 3.8 percent higher and the median price per square foot increasing 2.5 percent. They also sold slightly faster than last year with the median days on market reducing by a day. That said, there was a softening in the percent of single-family homes that sold over list price and the average percent of list price received.
Though there were 14 percent more sales last month, there is much more inventory in the condominium market. The median sale price and the median price per square foot both experienced a decrease last month. They also stayed on the market longer with the median days on market reaching 31 days. The condominium market also felt the softening in the percent of listings that sold over list price and the average percent of list price received.
Mortgage rates remain steady with the national average for a 30-year fixed recording at 2.93 percent last week. FreddieMac reported, 'Mortgage rates have remained effectively flat or at near-record lows for the last month. However, there are some interesting compositional shifts as the 10-year Treasury rate has increased modestly over the past month while mortgage spreads have declined. Spreads may decline even further but the rise in Treasury rates will make it difficult for mortgage rates to fall much more over the next few weeks.'
|
|
YEAR-OVER-YEAR COMPARISON | SINGLE FAMILY RESIDENCES
MONTH-OVER-MONTH | SINGLE FAMILY RESIDENCES
MEDIAN AREA VALUES | SINGLE FAMILY RESIDENCES
TOP FIVE SALES IN AUGUST 2020 | SINGLE FAMILY RESIDENCES
|
2661 BROADWAY STREET, Pacific Heights
$11,300,000 $2,141/sq. ft. 5 bed / 5.5 bath 5,278 sq. ft. |
|
663 MARINA BOULEVARD, Marina
$8,500,000 $1,568/sq. ft. 6 bed / 6.5 bath 5,420 sq. ft. |
|
|
3471 WASHINGTON STREET, Presidio Heights
$7,100,000 $1,346/sq. ft. 6 bed/4.5 bath 5,275 sq. ft. |
|
4326 CESAR CHAVEZ STREET, Noe Valley
$5,375,000 $1,286/sq. ft. 5 bed / 5 bath 4,180 sq. ft. |
|
|
245 EDGEWOOD AVENUE, Cole Valley
$5,200,000 $1,409/sq. ft. 3 bed/4 bath 3,690 sq. ft. |
AUGUST 2020 WRAP-UP | CONDOMINIUMS/TIC/COOPs
YEAR-OVER-YEAR COMPARISON | CONDOMINIUMS/TIC/COOPs
MONTH-OVER-MONTH | CONDOMINIUMS/TIC/COOPs
MEDIAN AREA VALUES | CONDOMINIUMS/TIC/COOPs
TOP FIVE SALES IN AUGUST 2020 | CONDOMINIUMS/TIC/COOPs
|
2230 BUSH STREET, Lower Pacific Height
$5,550,000 $1,554/sq. ft. 3 bed/3 bath 3,571 sq. ft. |
|
2121 WEBSTER STREET #401, Pacific Heights
$4,998,000 $2,366/sq. ft. 3 bed/2.5 bath 2,112 sq. ft. |
|
|
301 MISSION STREET #57C, Yerba Buena
$4,900,000 $1,738/sq. ft. 2 bed/3 bath 2,819 sq. ft. |
|
3030 FRANKLIN STREET, Marina
$3,600,000 $1,440/sq. ft. 3 bed/3.5 bath 2,500 sq. ft. |
|
|
2866 JACKSON STREET, Pacific Heights
$3,150,000 $1,141/sq. ft. 4 bed/3 bath 2,761 sq. ft. |
DISTRICT MAP
CLICK ON DISTRICT OR NEIGHBORHOOD FOR MORE INFORMATION
