SF Real Estate Report - July 2024

SF Real Estate Report - July 2024

  • Novo Real Estate

Trends at a Glance (Single-family Homes)

  Jul 24 Jun 24 Jul 23
Home Sales 199 191 151
Median Price $1,600,000 $1,631,000 $1,450,000
Average Price $1,983,853 $2,120,119 $1,830,962
SP/LP 108.6% 109.1% 105.2%
Days on Market 23 29 25

Trends at a Glance (Lofts/Townhomes/TIC)

  Jul 24 Jun 24 Jul 23
Condo Sales 198 169 160
Median Price $1,249,500 $1,098,000 $1,145,000
Average Price $1,298,062 $1,282,903 $1,222,515
SP/LP 100.7% 99.2% 99.4%
Days on Market 54 43 53

Home Prices & Sales Up in July

  • The median sales price for single-family homes fell 1.9% in July from June but was up 10.3% year-over-year.
  • The average sales price for single-family homes was down 6.4% month-over-month but up 8.4% year-over-year.
  • Sales of single-family homes rose 31.8% year-over-year, with 199 homes sold last month. The average since 2000 is 214.
  • The median sales price for condos/lofts was up 9.1% year-over-year.
  • The average sales price for condos/lofts was up 6.2% year-over-year.
  • Sales of condos/lofts rose 23.8% year-over-year, with 198 condos/lofts sold last month. The average since 2000 is 230.
  • The sales price to list price ratio for homes fell from 109.1% to 108.6%. For condos/townhomes, it rose from 99.2% to 100.7%.
  • Average days on market were 23 for homes and 54 for condos/lofts.

Momentum Statistics

Sales momentum:

  • For homes, it rose from –0.8 to +3.0.
  • For condos/lofts, it was up 5.2 points to –9.7.

Pricing momentum:

  • For single-family homes, it rose 1.9 points to +2.9.
  • For condos/lofts, it rose 1.2 points to +1.2.

Our momentum statistics are based on 12-month moving averages to eliminate monthly and seasonal variations.

If you are planning on selling your property, call me for a free comparative market analysis.

For the on-line report, go here:
https://rereport.com/sf/robb/

To read/print the complete monthly report, go here:
https://rereport.com/sdc/print/RobbFleischerSF.pdf

Discover

More Articles

let's Connect

Work with us

Our top priority is customer satisfaction and we will use every tool at our disposal to help our clients achieve their goals of property ownership.

Follow Us on Instagram