Single family homes continue to perform exceptionally well, with purchasers paying an average of 16% over list prices last month. MLS District 2, consisting of Sunset and Parkside, saw purchasers pay an average of 24% over list price. A close second, MLS District 9 (Mission, Bernal Heights & Potrero Hill) recorded an average of 21% over list price. However, there were 12% fewer overall single family transactions in April, as compared to last year. This is likely due to lower inventory levels. Currently, there is about a one month supply of inventory, versus about two months last year. Single family homes are now selling one week faster than they did last year.
Condominiums are performing reasonably well, with purchasers paying an average of 6% over list price. Just as with single family homes, condominiums are also selling one week faster than they did last year. There are currently about 850 new condominiums on the market, as compared to over 1,100 at the start of the year. This decrease in inventory should allow for better performance of the condominium market going forward.
MEDIAN SALE PRICE
MEDIAN NEIGHBORHOOD VALUES
CONDOMINIUMS
Russian Hill, Nob Hill, Pacific/Presidio Heights and South Beach/Yerba Buena top the neighborhoods with the highest price per square foot for condos. Excelsior/Portola is the least expensive borough at $502/square foot.
SINGLE FAMILY HOMES
Pacific/Presidio Heights, Russian Hill and Marina/Cow Hollow lead the neighborhoods for single family homes with the highest price per square foot while Bayview/Hunters Point offers the best value at $571/square foot.
TOP FIVE SALES
CONDOMINIUMS
SINGLE FAMILY HOMES
From San Francisco to Marin County, The Costa Group has sold 100's of homes and placed families of all shapes and sizes into Single Family Residences, Urban Dwellings, Penthouses, Condominiums, New Developments, Victorians, Edwardians, Apartments, Flats and Income Property.
