The San Francisco real estate market took time off for the holidays this year. Single-family home inventory dropped by 20.4% from 2014 while condominium inventory dropped 35.8% from 2014. This significant decline in available homes allowed Buyers to take time off. Single-family home values increased 5.4% from January 2014 to January 2015. The 36% drop in condominium inventory actually led to a 2.4% decrease in the median sale price.
February inventory levels will continue to be low – but I suspect we’ll see much higher trends in the median sale price. A single-family home in Buena Vista is set to close escrow for $1.5M over the asking price! I recently sold a condominium in the Inner Mission for 22.3% over the list price.
Read the full report here….
SFAR MarketFocus – January 2015