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San Francisco Market Focus May 2014

Date post:12-Nov-2014
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  • 1. May 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 Monthly Indicators + 8.1% + 14.8% + 14.8% One-Year Change in The American Dream of homeownership is alive and well, but here in San Francisco, buyers must contend with an array of market factors, including decreasing supply and increasing competition, to make that dream a reality. With single family homes selling for 116 percent of list price and condos/TIC/Coop going for 109 percent of list price, its always a good idea to have a seasoned REALTOR in your corner. New Listings were down 28.3 percent for single family homes and 18.5 percent for Condo/TIC/Coop properties. Pending Sales decreased 23.0 percent for single family homes and 20.8 percent for Condo/TIC/Coop properties. The Median Sales Price was up 8.1 percent to $1,100,000 for single family homes and 14.8 percent to $952,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 31.8 percent for single family units and 25.0 percent for Condo/TIC/Coop units. We've had a mixed bag of economic news lately. As expected, national GDP contracted slightly during Q1-2014, which most economists attribute to impermanent factors like the harsh winter. We've now had more than four straight years of monthly private sector job growth. 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 Current as of June 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
  • 2. Single Family Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 5-2013 5-2014 Percent Change YTD 2013 YTD 2014 Percent Change Current as of June 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 2 Months Supply 2.2 1.5 - 31.8% -- -- -- Affordability Ratio 47 41 - 12.8% % of List Price Received 111.3% 116.1% + 4.3% 109.8% 53 79.6% + 6.7% + 2.6% 43 - 18.9% 112.7% % of Properties Sold Over List Price 77.8% 87.3% + 12.2% 74.6% Active Listings 487 324 - 33.5% -- Average Sales Price $1,489,882 $1,486,508 - 0.2% $1,295,245 Days on Market 32 26 - 18.8% 38 33 - 13.2% $1,440,671 -- -- Median Sales Price $1,017,500 $1,100,000 + 8.1% $899,500 Sold Listings 252 220 - 12.7% 971 New Listings 339 243 - 28.3% 1,310 Pending Sales 269 207 - 23.0% - 8.4%1,025 939 - 15.0%1,113 891 - 8.2% $1,049,000 + 16.6% + 11.2% 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014
  • 3. Condo/TIC/Coop Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 5-2013 5-2014 Percent Change YTD 2013 YTD 2014 Percent Change Current as of June 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 3 Months Supply 2.4 1.8 - 25.0% -- -- -- Affordability Ratio 67 55 - 17.9% % of List Price Received 105.9% 109.2% + 3.1% 104.8% 68 68.2% + 11.1% + 2.5% 56 - 17.6% 107.4% % of Properties Sold Over List Price 67.6% 75.5% + 11.7% 61.4% Active Listings 641 489 - 23.7% -- Average Sales Price $980,113 $1,174,824 + 19.9% $940,335 Days on Market 36 30 - 16.7% 44 $940,000 + 15.3% + 16.8% 36 - 18.2% $1,097,923 -- -- Sold Listings 380 286 - 24.7% 1,316 1,273 - 3.3% Median Sales Price $830,000 $952,500 + 14.8% $815,000 - 9.5% Pending Sales 360 285 - 20.8% 1,362 1,305 - 4.2% New Listings 384 313 - 18.5% 1,776 1,607 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014 5-2011 5-2012 5-2013 5-2014
  • 4. New Listings New Listings Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Jun-2013 293 +13.1% 358 +7.2% Jul-2013 259 +1.6% 332 +23.4% Aug-2013 272 +7.1% 341 +8.9% Sep-2013 296 -6.6% 449 +16.0% Oct-2013 276 -3.8% 321 +5.2% Nov-2013 172 -5.0% 191 -9.5% Dec-2013 112 +9.8% 116 +1.8% Jan-2014 207 +1.5% 337 +8.7% Feb-2014 195 -7.6% 303 -4.1% Mar-2014 232 -8.7% 300 -18.9% Apr-2014 236 -21.9% 354 -10.6% May-2014 243 -28.3% 313 -18.5% 12-Month Avg 233 -5.8% 310 +0.2% Historical New Listings by Month Current as of June 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 4 A count of the properties that have been newly listed on the market in a given month. 259 374 339 384 243 313 Single Family Condo/TIC/Coop May 0 100 200 300 400 500 600 700 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 Single Family Condo/TIC/Coop 1,317 1,657 1,310 1,776 1,113 1,607 Single Family Condo/TIC/Coop Year to Date 2012 2013 2014 - 18.5%+ 2.7%- 28.3%+ 30.9% + 7.2%- 15.0%- 0.5% - 9.5% 2012 2013 2014 2012 2013 2014 2012 2013 2014 - 7.2% - 10.7% - 15.2%+ 5.6%
  • 5. Pending Sales Pending Sales Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Jun-2013 278 +17.3% 290 -7.6% Jul-2013 250 +10.6% 332 +16.1% Aug-2013 229 +1.3% 302 +4.5% Sep-2013 210 +15.4% 254 +16.5% Oct-2013 245 -14.6% 340 +22.7% Nov-2013 224 -10.8% 270 -0.4% Dec-2013 172 +1.2% 202 -0.5% Jan-2014 135 -14.6% 184 +5.7% Feb-2014 166 +11.4% 251 +15.7% Mar-2014 220 +6.3% 294 -2.6% Apr-2014 211 -12.8% 291 -5.8% May-2014 207 -23.0% 285 -20.8% 12-Month Avg 212 -2.2% 275 +2.3% Historical Pending Sales by Month A count of the properties on which offers have been accepted in a given month. Current as of June 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 5 243 316 269 360 207 285 Single Family Condo/TIC/Coop May 0 100 200 300 400 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 Single Family Condo/TIC/Coop 1,068 1,296 1,025 1,362 939 1,305 Single Family Condo/TIC/Coop Year to Date 2012 2013 2014 - 20.8%+ 13.9%- 23.0%+ 10.7% + 5.1%- 8.4%- 4.0% - 4.2% 2012 2013 2014 2012 2013 2014 2012 2013 2014 - 2.8% + 7.2% + 16.8%+ 21.5%
  • 6. Sold Listings Sold Listings Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Jun-2013 272 +1.5% 277 -18.5% Jul-2013 278 +28.1% 341 +23.1% Aug-2013 238 -1.7% 303 -6.2% Sep-2013 188 +5.0% 229 +0.4% Oct-2013 256 +0.4% 335 +21.8% Nov-2013 240 -11.8% 283 +4.8% Dec-2013 216 +3.3% 246 -2.0% Jan-2014 131 -18.6% 179 +14.7% Feb-2014 157 +21.7% 222 +13.8% Mar-2014 176 -15.0% 266 -5.7% Apr-2014 207 -6.8% 320 +5.6% May-2014 220 -12.7% 286 -24.7% 12-Month Avg 215 -1.3% 274 +0.2% Historical Sold Listings by Month A count of the actual sales that closed in a given month. Current as of June 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 6 236 299 252 380 220 286 Single Family Condo/TIC/Coop May 0 100 200 300 400 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 Single Family Condo/TIC/Coop 992 1,202 971 1,316 891 1,273 Single Family Condo/TIC/Coop Year to Date 2012 2013 2014 - 24.7%+ 27.1%- 12.7%+ 6.8% + 9.5%- 8.2%- 2.1% - 3.3% 2012 2013 2014 2012 2013 2014 2012 2013 2014 + 6.3% + 7.8% + 12.0%+ 18.2%
  • 7. Median Sales Price Median Sales Price Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Jun-2013 $939,000 +20.4% $780,000 +9.5% Jul-2013 $872,500 +13.6% $850,000 +23.2% Aug-2013 $934,000 +22.5% $810,000 +11.7% Sep-2013 $929,000 +28.1% $826,000 +6.4% Oct-2013 $905,000 +9.0% $865,000 +13.8% Nov-2013 $957,000 +18.1% $826,000 +6.6% Dec-2013 $947,000 +13.4% $762,500 +9.1% Jan-2014 $925,000 +24.2% $950,000 +24.6% Feb-2014 $1,050,000 +31.2% $937,000 +24.9% Mar-2014 $987,500 +7.3% $971,500 +18.1% Apr-2014 $1,100,000 +10.0% $905,000 +7.1% May-2014 $1,100,000 +8.1% $952,500 +14.8% 12-Month Avg* $954,000 +14.9% $860,000 +11.8% Historical Median Sales Price by Month Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. * Median Sales Price for all properties from June 2013 through May 2014. This is not the average of the individual figures above. Current as of June 11, 2014. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 7 $778,000 $700,000 $1,017,500 $830,000 $1,100,000 $952,500 Single Family Condo/TIC/Coop May $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,100,000 $1,200,000 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 Single Family Condo/TIC/Coop $715,000 $660,000 $899,500
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