Last month saw a 25% drop in the number of transactions, as compared to the month before. This decrease is likely due to seasonality. Both the single family and condominium sectors posted double digit year-over-year growth in median sale price. The middle single family price tier ($1.2MM to $1.7MM) saw the greatest pressure, with purchasers paying an average of 25% over list price. This is compared to 11% over list price for properties over $1.7MM. Condominium performance has improved as of late, likely due to lower new condominium inventory levels. New condominium inventory is running about 20% lower than last year. Condominiums also saw a reduction in market time of about 10 days, with a median of 21 days on market.
MEDIAN SALE PRICE
MEDIAN NEIGHBORHOOD VALUES
CONDOMINIUMS
Bernal Heights/Glen Park, Castro/Duboce Triangle and Cole Valley/Haight-Ashbury lead with 10% and 9% above list price.
SINGLE FAMILY HOMES
Sunset, Excelsior/Portola, and Ingleside Terrace/Lakeside top the percentage above list for single family homes in July 2017.
TOP FIVE SALES
CONDOMINIUMS
The priciest condominium sold in July went for $7.1 million, or $2,254/square foot.
SINGLE FAMILY HOMES
Two residences on Washington Street top the highest price list for single family homes in July.
Whether you are looking to buy or sell a condominium or single family home in San Francisco or Marin County, The Costa Group provides extraordinary service to elevate your life and bring you home.
