Welcome to our comprehensive analysis of the San Francisco real estate market for September 2023. This report offers crucial insights into the latest trends and statistics, benefiting both buyers and sellers.
Highlights: Quick Snapshot
- Single-family Homes: Median Sales Price Flat MoM, Down 4.5% YoY
- Condos: Median Sales Price Down 10.3% YoY
Key Statistics for Single-family Homes in San Francisco
- Home Sales: 139, compared to 137 in August 2023 (MoM: +1.5%, YoY: -18.2%)
- Median Sales Price: $1,575,000 (MoM: 0%, YoY: -4.5%)
- Average Sales Price: $2,021,155 (MoM: +3.6%, YoY: +6.6%)
- Sales Price/List Price (SP/LP): 104.2% (MoM: -0.8%, YoY: -2.1%)
- Days on Market: 28 days (MoM: -9.7%, YoY: +12%)
Key Statistics for Condos, Lofts, Townhomes, and TICs
- Condo Sales: 162, compared to 144 in August 2023 (MoM: +12.5%, YoY: -15.6%)
- Median Sales Price: $1,050,000 (MoM: -5%, YoY: -10.3%)
- Average Sales Price: $1,371,274 (MoM: +11.5%, YoY: +1.9%)
- Sales Price/List Price (SP/LP): 97.7% (MoM: -0.9%, YoY: -2.7%)
- Days on Market: 52 days (MoM: -11.9%, YoY: -5.5%)
Current Trends in San Francisco's Real Estate Market
September's market displayed a diverse range of opportunities, similar to the varying colors of autumn leaves. While sales for single-family homes and condos have decreased compared to last year, the average sales prices are rising, offering a rich harvest of opportunities for sellers.
Implications for Buyers and Sellers
- For Buyers: Given the drop in sales and an increase in days on the market, this might be an opportune time to enter the market and negotiate deals.
- For Sellers: The rising average sales prices indicate that it could be a fruitful time to consider selling, especially for single-family homes.
Summary and Call to Action
September offers a cornucopia of opportunities, whether you're looking to buy or sell. As the market navigates through the season of change, it's essential to stay informed and make data-driven decisions. Contact us for a personalized consultation to make the most of this season's real estate harvest.
Information based on 'The Real Estate Report of Local Market Trends for San Francisco' by Robb Fleischer, Broker/Officer for Novo and AMSI Real Estate Services.