Median sales price is calculated based on sold data and doesn’t account for seller concessions. Median price represents the point at which half of the homes sold for more and half sold for less. In smaller neighborhoods like many of those found in San Francisco, this metric is less likely to be influenced by extremely high or low sales prices that don’t represent the typical neighborhood home.
Days on Market indicates how quickly or slowly homes are selling in the neighborhood. The lower the days on market (DOM), the stronger the market is for sellers, all other things being equal.
The number of homes available for sale in active status at the end of a given month. Fewer homes available for sale may indicate a seasonal trend or market dynamics that favor a seller more than a buyer.
In strong or balanced markets, homes in San Francisco typically sell over asking. In a buyer’s market, homes will sell at list price or slightly under. If a home has had price reductions, the calculation is based on the last listed price.
Price per square foot is most useful when the homes are almost identical in size, age, layout and other factors important to buyers. Our experience suggests it is a more valuable metric in larger condo buildings and less valuable for homes in neighborhoods built with a diverse selection of styles, sizes, and ages.
While there are numerous real estate market data and market trend sites, we believe that buyers are sellers want to know three things: How much, How Many, and How Long?
xx real estate market trends. How many home sales in xx? What’s the Median xx Sales Price? How Long Does a Sale in xx Take? Are Homes Selling For More or Less Than Asking in xx?
How Much is answered by the Median Sales Price, Price per Square Foot, and Average % over/under asking price received charts.
How Many is, as you might guess, answered by the number of active listings graph.
How Long is answered by the Days on Market (DOM) statistic, showing the average length of time from the mls listing going public to the time it enters the pending status with all contingencies removed.