SF Real Estate Report - June 2024

SF Real Estate Report - June 2024

  • Novo Real Estate

Trends at a Glance (Single-family Homes)

  Jun 24 May 24 Jun 23
Home Sales 191 217 204
Median Price $1,631,000 $1,701,000 $1,590,000
Average Price $2,120,119 $2,191,885 $2,004,984
SP/LP 109.1% 108.8% 105.0%
Days on Market 29 22 25

Trends at a Glance (Lofts/Townhomes/TIC)

  Jun 24 May 24 Jun 23
Condo Sales 169 252 197
Median Price $1,098,000 $1,150,000 $1,100,000
Average Price $1,282,903 $1,383,468 $1,260,762
SP/LP 99.2% 103.2% 100.2%
Days on Market 43 44 50

Home Prices Mixed, Sales Down in June

  • The median sales price for single-family homes fell 4.1% in June from May but was up 2.6% year-over-year.
  • The average sales price for single-family homes was down 3.3% month-over-month but up 5.7% year-over-year.
  • Sales of single-family homes fell 6.4% year-over-year, with 191 homes sold last month. The average since 2000 is 214.
  • The median sales price for condos/lofts was down 0.2% year-over-year.
  • The average sales price for condos/lofts was up 1.8% year-over-year.
  • Sales of condos/lofts fell 14.2% year-over-year, with 169 condos/lofts sold last month. The average since 2000 is 230.
  • The sales price to list price ratio for homes rose from 108.8% to 109.1%. For condos/townhomes, it fell from 103.2% to 99.2%.
  • Average days on market were 29 for homes and 43 for condos/lofts.

Momentum Statistics

Sales momentum:

  • For homes, it rose from –1.5 to –0.8.
  • For condos/lofts, it was down 3.1 points to –14.9.

Pricing momentum:

  • For single-family homes, it rose 1.6 points to +1.
  • For condos/lofts, it rose 1.1 points to 0.

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 for a personalized 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

 

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