Sales data for the summer months of June, July and August point to considerable strength in the market. There were approximately 1,400 closings during the summer, which is on par with last year's figures. Median market time came in at 18 days on market, versus 27 last year. Single family values posted three straight months of double-digit year-over-year gains, while condominium values posted two. Inventory levels remain tight, coming in at around one month. Single family homes continue to receive the greatest amount of competition, with purchasers paying an average of 17% over list price, and as high as 26% over list price. It is widely expected to be an active fall market, with a substantial increase in inventory. As an example, the number of active listings increased 35% during the month of September 2016, compared to the prior month.
MEDIAN SALE PRICE
MEDIAN NEIGHBORHOOD VALUES
CONDOMINIUMS
Bernal Heights/Glen Park is seeing 10% above list price for condominiums followed closely by Castro/Duboce Triangle and Noe Valley with 9% above list price.
SINGLE FAMILY HOMES
The Sunset is seeing sales prices 19% above list while Excelsior/Portola and Ingleside Terrace/Lakeside are pulling 15% over list price.
TOP 5 SALES
CONDOMINIUMS/TIC/COOP
SINGLE FAMILY HOMES
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