August has arrived, and SF’s typical real estate cycle sees a slow down in business during July and August because of Karl the Fog.
So, how did things stack up for single family home sales during the month of July?
This past month saw 251 homes close escrow during the month. That’s down from the 268 homes that closed escrow during June of 2013 and up from the 217 homes that closed escrow during July of 2012.
July 2013 San Francisco Market Stats:
Days on Market = 23 days in July, which is down 2 days from the 25 day average of June, and down 6 days from the 29 day average of July 2012.
Median List Price = $799,000, which is up $50,000 from the $749,000 in was in June. It also brings us right back to the median list price in May of 2013, when the median list price was also $799,000. The median list price for July of 2012 was $725,000.
Median Sales Price = $880,000, up $40,000 from $840,000 for June. While it is up over June, it is still underneath the $910,000 median sales price from May of 2013. The median sales price for July of 2012 it was $768,000.
Median Price per Square Foot = $634/square foot in July. Which is up from the $596/Square Foot in June but still down from the May measurement of $650/Sq.Ft. The July 2012 metric for median price per square foot was $566/Sq.Ft.
Disclaimer: 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 in Districts 1 – 10 of San Francisco. Condos/Coops/TICs/Lofts will be covered in separate posts.
What are your thoughts about the San Francisco marketing? I think many of these companies need to be doing paid search marketing to improve. Does it feel to you like it’s cooling a bit thanks to higher interest rates and plenty of fog? Or are are you feeling that things are just as hot as they were in April or May? We’d love to hear your thoughts in the comments section below.