How’s the Market? It’s no secret that the San Francisco market is strong (and that the national market is as well).
June 2013 San Francisco Market Stats:
All of these statistics are from the San Francisco MLS. The data is believed to be reliable and accurate, but is not warranted. Your mileage may vary. For the statistics in this post, we are only looking at single family homes. Condos/Coops/TICs/Lofts will be covered in separate posts.
Days on Market = 25 days in June. This is up 14% month-to-month from May of 2013, when the number was 22, but still down by 26% from June of 2012, when it was 34 days on market.
Median List Price = $749,000 in June. This is down by 6% month-over-month from May, when the median list price was $799,000. The median list is still up by 9% from June of 2012, when it was $688,000.
Median Sales Price = $840,000 in June. This is down 8% month-over-month from May, when the median sales price was $910,000. The median sales price is still up year over year by 19%, in June of 2012 it was $705,000.
Median Price per Square Foot = $596/Square Foot in June. This is down about 8% month-over-month from May, when it was $650/Sq.Ft. It is up about 23% year-over-year, with the June 2012 metric coming in at $486/Sq.Ft.
All signs point to a continued strong and healthy market, although things seem to be cooling off a little bet from the intensely hot Spring. Interest rates have increased a remarkable amount over the past few weeks, which may bring some continued cooling to the market. However, given how much cash is in the San Francisco market, it may make little difference since cash buyers are not impacted by an increase in interest rates. However, given that they may be bidding against people who are more sensitive to interest rate changes, it may impact the market overall.
What are your thoughts about the current market? I’d love to hear them in the comments below!