Each month, Zephyr’s MLS Direct (aka Clean Offer) publishes a San Francisco Real Estate Market Trends report. I like the statistics and graphs but mostly, I like the general summaries. For example,
“San Francisco home sales rose 6% in March from the month before, but were down 17.1% compared to March 2006.
The median price for single-family homes in San Francisco rose 10.6% from February, and was up 4.8% compared to last March. The average price for single-family gained 26.5% to propel it back over $1 million. The average price was up 10.9% year-over-year.
Condo prices also rose in March with the median price up 2.8% to $780,000, a year-over-year loss of 0.5%. The average price rose 6% to $801,776, down 5.8% compared to last March.
Condo sales rose 14.1%, month-over-month, but were down 6.6% year-over-year.”
Basically, the report verifies what those of us in the trenches know to be true. The market is continuing to pick up from last Fall’s slowdown. Each week, there are more sales and we are back to a majority of multiple offers on well-priced and presented properties.
Sales and sales prices are up from last month but not necessarily up from last year. In other words, the market is strong and robust again but not the crazy boom times it was for the past 5 years or so.
See the full report HERE.