San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions

San Francisco Real Estate Update – January 2011

Comments Off on San Francisco Real Estate Update – January 2011 14 February 2011

Yet again, Luba’s San Francisco Real Estate Blog brings you latest San Francisco Real Estate market report here. (You can also view previous market updates by selecting the archives on the upper right portion of the screen). Heres’s a little glimpse of the report:

Prices for single-family re-sale homes began the year by declining.

The median price for homes dropped 7% from December and was off 15.1% year-over-year.

Home sales were also down from December, but that is normal. Year-over-year, home sales were up, for the second month in a row, by 19.8%.

Home sales momentum continued trending downward, dropping a percentage point to +6.

Misc Musings from Your San Francisco Realtor, San Francisco Absorption Rate, San Francisco Neighborhoods, San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions

San Francisco Real Estate Dances “The Bump”

Comments Off on San Francisco Real Estate Dances “The Bump” 07 February 2011

As the good folks at the San Francisco Real Estate Blog noted, January is often the time when San Francisco home buyers shake off the holidays and add buying a home to the list of New Years Resolutions.

The San Francisco Real Estate Blog notes:

In years past, when the market was stronger, there was a “January Bump” in the San Francisco real estate market. The surge in activity occurred as droves of buyers came back to the market after the holiday season, while sellers lagged behind.

This meant there were more buyers than property listings, and competition ensued. Last year the San Francisco real estate market didn’t experience a January bump, but there are early signs that one is happening right now.

The blog post quotes a fellow Zephyr Realtor with a recent experience where a home his buyers tried to purchase received 3 over-asking price offers the FIRST day the home was on the market!

And his experience is not rare.

An Inner Sunset single family home received 11 offers on its offer date just 4 days after the first open house.

An Inner Mission condo sold after just 9 days on the market with 8 offers (an offer date was set on this one also.)

In fact, of the 67 reported sales at Zephyr Real Estate’s weekly meetings for January, 15 had multiple offers and 13 sold over the asking price.  Another 11 sold at the asking price.  (One caveat to mention – these are just the sales that are verbally reported – some agents aren’t able to make the meetings and those sales don’t get mentioned.  But BTW – based on those numbers, that means Zephyr represented more than 20% of the sales that occurred in January.  Um, yeah, we ROCK!) 😉

In fact, 329 properties went into contract this January.   There are still a total of 1356 properties on the market.

That means the absorption rate is just 4.1 (or it would take 4.1 months for the market to “absorb” all of this inventory – aka, it would take 4.1 months for these San Francisco listings to be bought up by buyers.)

And according to the standard guidelines that we use to determine whether we are in a Sellers’ Market (1-4 months of inventory), a Neutral Market (5-6 months of inventory) or a Buyers’ Market (7+ months of inventory) – right now, we in SF are actually in (drumroll please) a *Soft* Sellers’ Market!  😀

(Fair warning to sellers – DO NOT get greedy, this ain’t 2005!  Fair notice to buyers – there are still lots of great values out there, but a variety of circumstantial evidence including a decrease in the unemployment rate, especially in high-paying tech jobs, these good values may not be around too much longer!)

So, we in the SF Real Estate biz are enjoying the good news the January Real Estate Bump is bringing us.  And since our spirits are dancing, you may as well dance with us.  If you don’t know how to do “The Bump” – the video above will show you how. 😉

Misc Musings from Your San Francisco Realtor, San Francisco Local Resources, San Francisco Neighborhoods, San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions, San Francisco Real Estate Resources

San Francisco Real Estate Trends at a Glance

Comments Off on San Francisco Real Estate Trends at a Glance 03 February 2011

Want a brief look at San Francisco Real Estate Trends?  Of course you do!  That’s why you’re reading a Real Estate Blog aren’t you!?!?!

These statistics are for ALL of San Francisco, and I can GUARANTEE you that YOUR neighborhood WILL be different.

Email me and I’ll send you detailed information on your SF hood, whether that’s the Outer Sunset or Outer Parkside, Golden Gate Heights or Pacific Heights, Potrero Hill or Nob Hill, Twin Peaks, South Beach or any other San Francisco neighborhood in between!  Real Estate is local and San Francisco real estate is especially neighborhood-specific.

At a glance, Median Prices are trending up (multiple offers based on some aggressive pricing strategy is helping that trend!), Inventory is increasing (and we’re seeing some good stuff out there people!), and Average Days on Market is trending down (whether it’s another sign of aggressive marketing or a sign of a recovering market – it’s too early to tell.)

San Francisco Local Resources, San Francisco Mortgage & Financing Info, San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions

Mortgage Rates Going UP and How it Affects Your SF Home Purchase

Comments Off on Mortgage Rates Going UP and How it Affects Your SF Home Purchase 31 January 2011

Per the folks over at Daily Real Estate News mortgage rates are heading upwards.  And while rates are STILL historically low, the increase in rates CAN affect your purchase power significantly.

How significantly, you ask?

Well, using some really round numbers, a couple with NO debt that makes $200,000 a year can afford a mortgage of about $780,000 at 4.5% interest.  At 5% interest, the loan about is $745,000.  And at 5.5%, the loan amount is $705,000.  ALL of these amounts will cost you $4,000 per month.

So, remember, rates ARE at historical lows, and if they do go up, they are still expected to stay historically low (let’s not forget, the 1980’s saw double digit interest rates!!!)

But if you pass up a property because you are looking for a bargain, you may find that you can’t afford that bargain if interest rates creep up, even by 1/2 a percentage point.

Good luck and happy hunting!  And if you need a great mortgage broker to provide you with advice on what you CAN afford, give Tim Higbee of Guarantee Mortgage a shout!  He’s professional, honest, available and even does FHA loans.

Misc Musings from Your San Francisco Realtor, San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions, San Francisco Real Estate Resources

Dolla Dolla Billz Changing the San Francisco Real Estate Game

1 Comment 16 April 2010

So sales of homes in San Francisco are well, moving like hotcakes, at least relative to the last year or two. 

Socketsite reported that “recorded home sales volume in San Francisco was up 50.6% on a year-over-year basis last month and that “median sales price in March was $675,000, up 11.0% compared to March ’09 ($608,000) and up 7.6% compared to the month prior.”

Not enough evidence for you that we may have seen the bottom of the market? 

Well, how’s the evidence that multiple offers are on the rise again?  Out of the last 8 offers I’ve written for clients, 7 properties received multiple offers. 

But what’s MORE interesting, at least in my opinion, is that we seem to be seeing a major resurgence of the all cash offer! 

Yup.  In the last few weeks, the words “all cash offer” are a phrase I’m hearing on a daily basis.  Lenders are talking about it.  Escrow officers are talking about it.  And without a doubt, real estate agents are talking about it. 

But what does this all MEAN? 

Someone asked me the other day, “Why the hell would enyone ever tie up so much money in San Francisco real estate?”  Well, I’m going to go out on a limb here, but it might mean that the folks that are smart enough (or lucky enough) to amass a giant pile of cold hard cash seem to think that dumping all of their dough into real estate RIGHT NOW is a smart investment decision. 

Prices don’t seem to be going any lower and with sales spiking upwards and prices creeping upwards, it might be safe to deduce that the bottom of the SF housing market has come and gone.

I’d love to hear from some of you cash buyers, or even agents with cash buyers whether my theories are sorta correct or completely far fetched.  You can drop a note in the comments, or if you want to keep yourself anonymous, email me.

San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions, San Francisco Real Estate Resources

March 2010 San Francisco Housing Sales Data is Here!

Comments Off on March 2010 San Francisco Housing Sales Data is Here! 12 April 2010

Yet again, Luba’s San Francisco Real Estate Blog brings you latest San Francisco Real Estate market report here. (You can also view previous market updates by selecting the archives on the upper right portion of the screen). Heres’s a little glimpse of the report:

Property Sales up Sharply in March

Sales of single-family, re-sale homes were up 87.5% from February. Year-over-year, home sales were up 66.7%. This is the ninth month in a row home sales have been higher than the year before.

The median price for homes gained 13.5% from February, and was up 14,5% year-over-year.

Sales of lofts/condos also increased sharply last month, rising 51.1% from February, and up 82.1% year-over-year.

The median price for lofts/condos rose 3.1% from February, and was up 3.2% year-over-year.

The increase in sales was welcome and put home sales up 39.9% year-to-date. For lofts/condos, sales are up 73.8%.

With the new state tax credit and the federal tax credit still in effect until the end of April, we expect sales for the Spring selling season to be strong.

Read on for full details.

San Francisco Local Resources, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions

30 Days of Sold San Francisco Properties

Comments Off on 30 Days of Sold San Francisco Properties 08 April 2010

San Francisco real estate

Want to know know what sold in San Francisco in the last 30 days? Sign up for The City Update(TM) – San Francisco’s Friendliest Newsletter. You’ll get the details, and then some, in your inbox (almost) every Friday.

If you just want the round numbers, you can check them out below.

Sold Listings 03/08/10 – 04/08/10

Neighborhood Total Listings Average Price Average DOM
Alamo Square 2 $1,522,500 118
Anza Vista 1 $710,000 44
Bayview 9 $330,689 65
Bayview Heights 3 $328,300 144
Bernal Heights 15 $713,800 54
Buena Vista Park 2 $4,060,000 92
Central Richmond 4 $925,750 47
Central Sunset 8 $743,500 64
Central Waterfront 3 $569,000 117
Clarendon Heights 1 $2,840,000 15
Corona Heights 5 $1,039,000 34
Cow Hollow 6 $1,975,417 48
Crocker Amazon 6 $405,877 50
Diamond Heights 2 $738,500 158
Downtown 5 $506,978 70
Duboce Triangle 2 $642,500 39
Eureka V./Dolores Hts 17 $1,033,588 60
Excelsior 10 $496,700 39
Financial District 2 $707,000 63
Forest Hill 1 $850,000 24
Forest Knolls 1 $625,000 20
Glen Park 6 $952,250 19
Golden Gate Heights 5 $871,000 33
Haight Ashbury 5 $1,145,500 37
Hayes Valley 16 $959,781 49
Ingleside 4 $433,250 46
Ingleside Heights 3 $370,000 19
Inner Mission 15 $741,200 71
Inner Parkside 2 $2,290,000 10
Inner Richmond 4 $632,375 93
Lake 9 $1,451,556 25
Lake Shore 2 $684,000 26
Lakeside 1 $789,000 134
Laurel Heights 2 $1,540,000 31
Lone Mountain 2 $872,500 29
Lower Pacific Heights 9 $741,550 75
Marina 6 $1,402,083 44
Merced Heights 4 $592,250 41
Merced Manor 1 $1,150,000 67
Midtown Terrace 2 $751,500 49
Miraloma Park 3 $645,000 36
Mission Bay 5 $833,000 170
Mission Dolores 9 $721,167 46
Mount Davidson Manor 1 $832,000 65
Nob Hill 11 $1,277,818 68
Noe Valley 25 $1,260,930 46
North Beach 1 $3,175,000 136
North Panhandle 5 $760,650 57
North Waterfront 2 $625,000 34
Oceanview 2 $460,000 37
Outer Mission 5 $592,640 84
Outer Parkside 4 $765,000 43
Outer Richmond 8 $782,375 37
Outer Sunset 3 $680,000 62
Pacific Heights 19 $2,886,526 58
Parkside 13 $837,808 52
Parnassus/Ashbury Hts 9 $1,880,111 66
Portola 4 $521,000 51
Potrero Hill 11 $716,325 85
Presidio Heights 4 $3,630,219 84
Russian Hill 14 $1,463,857 86
Sea Cliff 2 $2,875,000 170
Silver Terrace 5 $478,000 95
South Beach 20 $767,523 85
South of Market 25 $666,676 114
St. Francis Wood 3 $2,041,667 45
Sunnyside 7 $682,429 54
Telegraph Hill 6 $937,000 133
Tenderloin 3 $1,028,333 188
Twin Peaks 2 $867,000 111
Van Ness/Civic Center 5 $551,500 52
Visitacion Valley 5 $386,170 31
West Portal 3 $1,158,000 58
Western Addition 2 $530,000 146
Westwood Highlands 4 $953,750 38

San Francisco Local Resources, San Francisco Real Estate, San Francisco Real Estate Fast Facts, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions, San Francisco Real Estate Resources

San Francisco Real Estate Sales Data – January – March 2010

Comments Off on San Francisco Real Estate Sales Data – January – March 2010 08 April 2010

In case you haven’t noticed, I’ve been a little behind on my blog posts as of late.  I’m a San Francisco Realtor first, and a blogger second.  So priority has been taking care of my buyers and sellers.  But there’s a teensy calm in the storm (the kind where the forecast is still calling for rain, but you peek outside and see a rainbow knowing that by the time you take off your galoshes, the rain will be back!) 

So since I’ve been behind in getting you the data you so desperately crave, here’s three months of it all at once.  Hopefully, it’ll be enough to make ammends.  And if not, I promise I’ll be around more often for you all.   

So here’s this wuarter’s summary of home sales pulled directly from the MLS. Remember, these are all closed sales and not pending sales.

Check back monthly to get the latest facts and figures – and if you have any questions about these statistics, or the market in general, feel free to give me a holler! I’m always happy to talk “real estate!” ;-)

Here’s a quick snapshot of the market from January 1 through March 30, 2010:

JANUARY

Single Family Homes

  • 119 Homes Sold
  • Median Sale Price was $718,000
  • Minimum Sale Price was $150,000
  • Maximum Sale Price was $6,500,000
  • Median Selling Price was 103% of asking price
  • Median Days on Market was 61
  • Median Selling Price for homes that sold within 30 days was 103.5% of asking price

Condominiums, Lofts & Co-ops

  • 93 Homes Sold
  • Median Sale Price was $620,000
  • Minimum Sale Price was $208,700
  • Maximum Sale Price was $1,750,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 72
  • Median Selling Price for homes that sold within 30 days was 99% of asking price

TIC’s

  • 22 Homes Sold
  • Median Sale Price was $584,000
  • Minimum Sale Price was $330,000
  • Maximum Sale Price was $895,000
  • Median Selling Price was 101% of asking price
  • Median Days on Market was 108
  • Median Selling Price for homes that sold within 30 days was 100% of asking price

 

FEBRUARY

Single Family Homes

  • 120 Homes Sold
  • Median Sale Price was $701,250
  • Minimum Sale Price was $200,000
  • Maximum Sale Price was $3,362,500
  • Median Selling Price was 101% of asking price
  • Median Days on Market was 33
  • Median Selling Price for homes that sold within 30 days was 104% of asking price

Condominiums, Lofts & Co-ops

  • 120 Homes Sold
  • Median Sale Price was $660,000
  • Minimum Sale Price was $115,000
  • Maximum Sale Price was $4,100,000
  • Median Selling Price was 97% of asking price
  • Median Days on Market was 54
  • Median Selling Price for homes that sold within 30 days was 100% of asking price

TIC’s

  • 23 Homes Sold
  • Median Sale Price was $549,000
  • Minimum Sale Price was $250,000
  • Maximum Sale Price was $870,000
  • Median Selling Price was 102% of asking price
  • Median Days on Market was 104
  • Median Selling Price for homes that sold within 30 days was 97% of asking price

 

MARCH

Single Family Homes

  • 210 Homes Sold
  • Median Sale Price was $790,000
  • Minimum Sale Price was $130,000
  • Maximum Sale Price was $13,500,000
  • Median Selling Price was 100% of asking price
  • Median Days on Market was 31
  • Median Selling Price for homes that sold within 30 days was 103% of asking price

Condominiums, Lofts & Co-ops

  • 182 Homes Sold
  • Median Sale Price was $683,500
  • Minimum Sale Price was $235,000
  • Maximum Sale Price was $2,450,000
  • Median Selling Price was 101% of asking price
  • Median Days on Market was 40
  • Median Selling Price for homes that sold within 30 days was 99% of asking price

TIC’s

  • 22 Homes Sold
  • Median Sale Price was $560,000
  • Minimum Sale Price was $370,000
  • Maximum Sale Price was $980,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 53
  • Median Selling Price for homes that sold within 30 days was 101% of asking price

San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions

2009 San Francisco Sales Data

Comments Off on 2009 San Francisco Sales Data 31 January 2010

I run this report every month, but this time, I thought I’d let you look at the WHOLE year ALL at once!

So here’s 2009’s summary of home sales pulled directly from the MLS. Remember, these are all closed sales and not pending sales.  (And also remember that very few sales from new developments ever end up on the MLS.) 

Check back monthly to get the latest facts and figures – and if you have any questions about these statistics, or the market in general, feel free to give me a holler! I’m always happy to talk “real estate!” ;-)

Here’s a quick snapshot of the market from January 1, 2009 through December 31, 2009:

Single Family Homes

  • 2160 Homes Sold
  • Median Sale Price was $748,000
  • Minimum Sale Price was $115,000
  • Maximum Sale Price was $14,000,000
  • Median Selling Price was 99.5% of asking price
  • Median Days on Market was 42
  • Median Selling Price for homes that sold within 30 days was 102.5% of asking price

Condominiums, Lofts & Co-ops

  • 1726 Homes Sold
  • Median Sale Price was $670,000
  • Minimum Sale Price was $115,000
  • Maximum Sale Price was $7,250,000
  • Median Selling Price was 96.5% of asking price
  • Median Days on Market was 61
  • Median Selling Price for homes that sold within 30 days was 98.5% of asking price

TIC’s

  • 406 Homes Sold
  • Median Sale Price was $540,000
  • Minimum Sale Price was $225,000
  • Maximum Sale Price was $2,396,000
  • Median Selling Price was 98% of asking price
  • Median Days on Market was 70
  • Median Selling Price for homes that sold within 30 days was 99.5% of asking price

San Francisco Local Resources, San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions

San Francisco Real Estate Sales Data – December 2009

Comments Off on San Francisco Real Estate Sales Data – December 2009 30 January 2010

As I do every month, I ran the latest San Francisco real estate sales figures from the month of December for you.  Obviously, I’m a little late, since it’s almost February, but as they say, better late than never, right? 😉 

This month, single family sales volume increased.  Median price dipped and days on market increased (not a surprise with lenders dragging their feet at every corner.)  Condos increased in volume by a smidge and median price increased by a smidge too.  and days on market increased (same as single family homes.)  And TIC sales almost doubled from the month before -a BIG surprise since TIC interest rates aren’t usually very desirable and these days, rates on condos and single family homes ARE awesome.  Without some sort of incentive from a seller, TIC’s just aren’t on everyone’s “to buy” list these days. 

So here’s this month’s summary of home sales pulled directly from the MLS. Remember, these are all closed sales and not pending sales.

Check back monthly to get the latest facts and figures – and if you have any questions about these statistics, or the market in general, feel free to give me a holler! I’m always happy to talk “real estate!” ;-)

Here’s a quick snapshot of the market from Deccember 1, 2009 through December 31, 2009:

Single Family Homes

  • 200 Homes Sold
  • Median Sale Price was $757,609
  • Minimum Sale Price was $169,000
  • Maximum Sale Price was $14,000,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 53
  • Median Selling Price for homes that sold within 30 days was 104% of asking price

Condominiums, Lofts & Co-ops

  • 181 Homes Sold
  • Median Sale Price was $680,000
  • Minimum Sale Price was $212,900
  • Maximum Sale Price was $3,375,000
  • Median Selling Price was 97% of asking price
  • Median Days on Market was 70
  • Median Selling Price for homes that sold within 30 days was 98.4% of asking price

TIC’s

  • 55 Homes Sold
  • Median Sale Price was $587,000
  • Minimum Sale Price was $340,000
  • Maximum Sale Price was $1,635,000
  • Median Selling Price was 98% of asking price
  • Median Days on Market was 72
  • Median Selling Price for homes that sold within 30 days was 101.5% of asking price

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About the Blog


Luba’s San Francisco Real Estate Blog was created to share insights about San Francisco Real Estate and about San Francisco living. Written by Luba Muzichenko, an "almost-native" San Franciscan and a local Realtor® with Zephyr Real Estate, Luba’s San Francisco Real Estate Blog is meant to inform you about a variety of good things and happenings around SF and its unique neighborhoods, about buying and selling homes in the City and about the real estate market in general. If you like what you see, please tell a friend.

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Contact Me

Luba Muzichenko
REALTOR®
Top Producer
Certified Residential Specialist®
e-Pro®
Zephyr Real Estate
415-307-1392 (cell)
luba@zephyrsf.com
www.LubaSF.com
DRE License #01768716
Top Agent Network 

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