The Case-Shiller Index for September was released today. Note that it will mostly reflect sales negotiated in August or before, during the slower summer sales season. (The next Index, published in late December, will begin to reflect transactions negotiated in September and the start of the autumn sales season.) These 2 charts pertain to the upper third of sales for 5 Bay Area counties – upper third by price range. The majority of home sales in San Francisco, Marin and San Mateo are in this upper price tier. ...
San Francisco Autumn Real Estate Market Dynamics
SF Luxury Home Sales Hit New Peak
Neighborhood Snapshots: Noe & Eureka Valleys, South Beach
& Yerba Buena, Richmond District, Bernal Heights & Sunset/Parkside
November 2014 Update
The San Francisco market definitely cooled after the overheated feeding frenzy of the first half of the year. The competition between buyers for new listings declined to more rational levels: Homes that might have received 5 to 10 offers earlier in the year received 1 or 2 or 3. Values in many of the city’s neighborhoods plateaued or even ticked down a bit after spring’s big spike – the exception being districts with the most affordable house prices (under $1.2 million) where prices generally continued to tick up. The number of expired and withdrawn listings jumped 18% August through October when compared to last year, to over 460 listings, as buyers decided many sellers were pushing the envelope on prices too far. ...
August Case-Shiller Index Report
The August Case-Shiller Index report released today showed a small home price decline for the 5 counties of the SF Metro Area. Autumn’s numbers will give us a clearer indication as to whether this is the beginning of a flattening or declining price trend or simply the not untypical indication of a summer adjustment from the spring frenzy. PDFs are attached.
Mortgage Interest Rates Just Hit a 16-month Low
3rd Quarter 2014 Market Report
San Francisco House & Condo Values
Which Neighborhoods Dominate Home Sales?
Who Is Buying the City’s Luxury Condos and Why?
September saw the largest surge of new listings coming on market in the past 2 years, which led to a big jump in deal-making, but data on transactions negotiated in September won’t be available until most close escrow in October and early November. In the meantime, we’ll look at the last 2 quarters.
Median Sales Prices
& Average Dollar per Square Foot
The following 2 charts look at current and longer-term trends in home values. As is common, median house sales prices dropped a bit in the 3rd quarter – this is due mostly to seasonality issues – though condos have held steady for 3 quarters now at $950,000. Dollar per square foot values have continued to increase to new peaks: This metric is particularly being impacted by new-development condo sales, which are breaking dollar per square foot records virtually everyplace they’re being built.
If you wish to drill down on values in very specific city neighborhoods, we recently updated our interactive map, which can be found here: SF Home Price Map ...
Case-Shiller sees small drop in Bay Area home prices in July – 3 charts included
The S&P Case-Shiller Home Price Index for July 2014 was released today, and indicated a small – less than 1% – dip in high-price-tier houses. (The Case-Shiller aggregate Index for all Bay Area home price tiers dropped even less, about 4 tenths of a percent.)
For the past 3 years, home prices have surged in the spring and then plateaued during the summer. It is too early to speculate whether home prices are trending down a bit after the spring market frenzy, which is certainly possible. For any definitive sense of home price trends, we will have to wait until the autumn-selling season numbers are in. Autumn this year began with a big surge in the number of new listings in September. ...
Updated S&P Case-Shiller Home Price Index for San Francisco Metro Area
The Case-Shiller Index for the San Francisco Metro Area covers the house markets of 5 Bay Area counties, divided into 3 price tiers, each constituting one third of unit sales. Most of the San Francisco’s and Marin’s house sales are in the “high price tier”, so that is where we focus most of our attention.” The Index is published 2 months after the month in question and reflects a 3-month rolling average, so it will always reflect the market of some months ago. June’s Index was released on the last Tuesday of August. ...
Seasonality in the San Francisco Homes Market
Seasonality in the San Francisco Homes Market
August 2014 Report by Paragon Real Estate Group
Seasonality typically affects inventory levels, buyer demand and median home prices, often in significant ways – as is illustrated in the following charts. However, it is not the only factor affecting market conditions and trends – general economic conditions, new construction projects coming on market, sudden changes in interest rates, stock market IPOs, natural and political events, and other factors can and do impact the market as well. It should also be noted that new listings and new sales occur every month of the year – and sometimes, depending on prevailing market conditions and the specific property, buying or selling during the slower periods can be the smart strategy. ...