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Sales and Prices Continue to Rise in April

May 23, 2008

As reported by CleanOffer.com, single-family, re-sale homes and condo sales rose in April, as is to be expected this time of year. The sale of single-family, re-sales homes gained 23.1% from March, a 5.2% decline year-over-year. Sales of condos and lofts rose 17.5% month-over-month, but were down 22.1% compared to last April.

The median price for single-family, re-sale homes rose 4.3% from March, and, it was up 2.2% year-over-year. The average price rose 1.1%, and, it was up 5.7% compared to last April.

The median price for condos in San Francisco fell 1.4% to $755,000 from March, but, was up 4.5% year-over-year. The average price for condos gained 0.3% to $917,238, a new record high, for the second month in a row.  The average price was up 10.5% year-over-year.

Condo sales gained 17.5% month-over-month, down 22.1% year-over-year.

 

Sales price to list price ratios for single-family homes gained 2.1 points to 103.8%. The ratio for condos rose 0.5 of a point to 101.1%. The graph below shows the sales price to list price ratio as reported at sale compared to the sales price to original list price ratio.

Days on market fell three to 40 days for homes, and was down five to 51 for condos.

The real estate market is very hard to generalize. It is a market made up of many micro markets. As Leslie Appleton-Young, chief economist for the California Association of Realtors, recently said, “Knowing the median price is interesting, but it is as indicative of the value of your home as knowing the median temperature in America is to predicting the local weather.”

For complete information on a particular neighborhood or for an evaluation of your home’s worth, call me.

If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.

Search district by district at: CleanOffer.com

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