January 2014 Monthly Snapshot One-Year Change in One-Year Change in Median Sales Price Single Family Median Sales Price Condo/TIC/Coop 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. Condo/TIC/Coop Activity Overview Inventory of Active Listings % of Properties Sold Over List Price % of List Price Received Housing Affordability Ratio All Properties Activity Overview New Listings Pending Sales Sold Listings Median Sales Price Average Sales Price Days on Market Until Sale Activity by District Monthly Indicators + 24.6% + 24.6% + 23.2% One-Year Change in The same factors that catalyzed widespread market recovery in 2012 and 2013 are likely to continue in 2014, though perhaps at a more moderate pace. That's not a bad thing, since the market is returning to a stable, healthy state. Potential trends to watch for in 2014 include increased seller activity, more new construction and fewer foreclosures on the market. Inventory is another metric to watch this year. New Listings were down 11.3 percent for single family homes and 7.8 percent for Condo/TIC/Coop properties. Pending Sales decreased 12.0 percent for single family homes but increased 0.6 percent for Condo/TIC/Coop properties. The Median Sales Price was up 24.6 percent to $928,000 for single family homes and 24.6 percent to $950,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 20.0 percent for single family units and 31.6 percent for Condo/TIC/Coop units. Given how far the market has come, it's a good time for folks to reassess their situation. Many who were hesitant to sell in recent years may find themselves in a completely different position. Getting a fresh comparative market analysis might be a good idea. Interest rates remain attractive and should remain below their long-term average, but they are expected to creep higher in 2014. Politicians are gearing up for midterm elections, so pay close attention to campaign messaging as relates to real estate or mortgage financing. Job growth is still fundamental and is likely to dominate this election cycle. Median Sales Price All Property Types Residential real estate activity in San Francisco County (Districts 1-10), comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures. Single Family Activity Overview Months Supply of Inventory
Transcript
January 2014 Monthly Snapshot
One-Year Change in One-Year Change inMedian Sales Price
Single FamilyMedian Sales Price Condo/TIC/Coop
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10111213141516
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing.
Condo/TIC/Coop Activity Overview
Inventory of Active Listings% of Properties Sold Over List Price% of List Price ReceivedHousing Affordability Ratio
All Properties Activity Overview
New ListingsPending SalesSold ListingsMedian Sales PriceAverage Sales PriceDays on Market Until Sale
Activity by District
Monthly Indicators
+ 24.6% + 24.6% + 23.2%One-Year Change inThe same factors that catalyzed widespread market recovery in 2012 and 2013
are likely to continue in 2014, though perhaps at a more moderate pace. That's not a bad thing, since the market is returning to a stable, healthy state. Potential trends to watch for in 2014 include increased seller activity, more new construction and fewer foreclosures on the market. Inventory is another metric to watch this year.
New Listings were down 11.3 percent for single family homes and 7.8 percent for Condo/TIC/Coop properties. Pending Sales decreased 12.0 percent for single family homes but increased 0.6 percent for Condo/TIC/Coop properties.
The Median Sales Price was up 24.6 percent to $928,000 for single family homes and 24.6 percent to $950,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 20.0 percent for single family units and 31.6 percent for Condo/TIC/Coop units.
Given how far the market has come, it's a good time for folks to reassess their situation. Many who were hesitant to sell in recent years may find themselves in a completely different position. Getting a fresh comparative market analysis might be a good idea. Interest rates remain attractive and should remain below their long-term average, but they are expected to creep higher in 2014. Politicians are gearing up for midterm elections, so pay close attention to campaign messaging as relates to real estate or mortgage financing. Job growth is still fundamental and is likely to dominate this election cycle.
Median Sales Price All Property Types
Residential real estate activity in San Francisco County (Districts 1-10), comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures.
Single Family Activity Overview
Months Supply of Inventory
Single Family Activity OverviewKey metrics by report month and for year-to-date (YTD) starting from the first of the year.
Historical Median Sales Price by Month* Median Sales Price for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Historical Average Sales Price by Month* Average Sales Price for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Historical Days on Market Until Sale by Month* Days on Market for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Average number of days between when a property is listed and when an offer is accepted in a given month.
Historical Inventory of Active Listings by Month* Active Listings for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 10
The number of properties available for sale in active status at the end of a given month.
Historical % of Properties Sold Over List Price by Month* % of Properties Sold Over List Price for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Percentage found when dividing the number of properties sold by properties sold over its original list price, not accounting for seller concessions.
Historical % of List Price Received by Month* % of List Price Received for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 12
Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Historical Housing Affordability Ratio by Month* Affordability Ratio for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 13
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Historical Months Supply of Inventory by Month* Months Supply for all properties from February 2013 through January 2014. This is not the average of the individual figures above.
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 14
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Average Sales Price $872,093 $1,181,993 + 35.5% $872,093
Active Listings 835 620 - 25.7% --
% of Properties Sold Over List Price 52.1% 53.2% + 2.1% 52.1%
62
53.2% + 2.1%
+ 1.3%
40 - 34.8%
105.0%% of List Price Received 103.7% 105.0% + 1.3% 103.7%
Current as of February 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 15
Months Supply 1.7 1.2 - 29.4% -- -- --
Affordability Ratio 62 40 - 34.8%
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
1-2011 1-2012 1-2013 1-2014
Activity by District
SF District 1: Northwest (Sea Cliff, Lake, Jordan Park / Laurel Heights, Outer Richmond, Central Richmond, Inner Richmond, Lone Mountain)
SF District 2: Central West (Outer Sunset, Central Sunset, Inner Sunset, Outer Parkside, Parkside, Inner Parkside, Golden Gate Heights)
SF District 3: Southwest (Pine Lake Park, Lake Shore, Merced Manor, Stonestown, Lakeside, Merced Heights, Ingleside, Ingleside Heights, Oceanview)
SF District 4: Twin Peaks W (Forest Hill (& Ext), W Portal, St Francis Wd, Balboa Terr, Mt Dav Manor, Ingleside Terr, Monterey Hts, Wstwd Pk & H'lnds, Shrwd Fst, Miraloma Pk, Dmnd Hts, Mdtwn Terr)
SF District 5: Central (Haight Ashbury, Cole Vly / Prnssus Hts, Clarndn Hts, Corona Hts, Twin Pks, Glen Pk, Noe Vly, Eureka Vly / Dolores Hts, Mission Dolores, Duboce Trngl, Buena Vista / Ashbury Hts)
SF District 6: Central North (Lower Pacific Heights, Anza Vista, Western Addition, North Panhandle, Alamo Square, Hayes Valley)
SF District 7: North (Marina, Cow Hollow, Presidio Heights, Pacific Heights)
SF District 8: Northeast (North Waterfront, North Beach, Russian Hill, Telegraph Hill, Nob Hill, Financial District / Barbary Coast, Downtown, Van Ness / Civic Center, Tenderloin)
SF District 9: Central East (Yerba Buena, South Beach, South of Market, Mission Bay, Inner Mission, Potrero Hill, Central Waterfront / Dogpatch, Bernal Heights)
SF District 10: Southeast (Outer Mission, Mission Terr, Excelsior, Portola, Bayview, Silver Terr, Hunters Pt, Candlestick Pt, Bayview Hts, Little Hollywood, Visitation Vly, Crocker Amazon)
