Statistical Tables | Good Times And Complaints

Average Sales Price Sets New High

Trends at a Glance
(Single-family Homes)
  Apr 19 Mar 19 Apr 18
Home Sales: 216 168 187
Median Price:  $1,632,500  $1,637,500  $1,650,000
Average Price:  $2,264,996  $2,040,343  $2,250,634
SP/LP: 107.6% 107.8% 111.4%
Days on Market: 25 26 19
(Lofts/Townhomes/TIC)
  Apr 19 Mar 19 Apr 18
Condo Sales: 305 252 282
Median Price:  $1,250,000  $1,247,500  $1,232,500
Average Price:  $1,365,011  $1,325,609  $1,338,607
SP/LP: 104.4% 103.8% 108.4%
Days on Market: 37 35 26

The average sales price for single-family, re-sale homes set a new high in April at $2,264,990. That is a 0.6% gain over last April.

The median sales price for condos/townhomes matched the record high set last March of $1,250,000.

Home sales were up 15.5% over last April. There were 216 homes sold last month.

There were 305 condos sold last month, up 8.2% year-over-year.

The sales price to list price ratio, or what buyers are paying over what sellers are asking, was 106.8% for homes and 103.4% for condos/lofts.

Average days on market, or the time from when a property is listed to when it goes into contract, was down to 25 for homes and 37 for condos/lofts.

Momentum Statistics

Sales momentum…
for homes rose one point to +21.4. Sales momentum for condos/lofts was down 1.3 points to +6.7.

Pricing momentum…
for single-family homes fell 1.5 points to –2.3. Pricing momentum for condos/lofts fell 0.8 of a point to +0.0.

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

This is an extraordinarily tough market for buyers. It's important to be calm and realistic. If you don't know what to do or where to begin, give me a call and let's discuss your situation and your options.

The graph below shows the median and average prices plus unit sales for homes.

The following chart shows the median price difference compared to the year before.

 

The graph below shows the median and average prices plus unit sales for condos/lofts.

The following chart shows the median price compared to the average price. The average price will always be more than the median price. The greater the difference, the more higher priced homes are being sold.

The real estate market is very hard to generalize. It is a market made up of many micro markets, especially in San Francisco. For complete information on a particular neighborhood or property, 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.

Monthly Statistics

Complete monthly sales statistics for San Francisco are below. Monthly graphs are available for each district in the city by clicking the links to the left.

April Sales Statistics
(Single-family Homes)
  Prices Unit     Yearly Change Monthly Change
  Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco  $  1,632,500  $  2,264,996 216 25 107.6% -1.1% 0.6% 15.5% -0.3% 11.0% 28.6%
D1: Northwest  $  2,205,000  $  2,296,833 15 25 107.3% 8.2% -1.9% -16.7% 2.6% -15.5% 0.0%
D2: Central West  $     635,000  $     641,667 3 70.67 101.4% 0.0% -2.4% 2.6% -0.2% -4.7% 21.9%
D3: Southwest  $  1,155,500  $  1,243,844 16 27 116.2% -12.8% -9.9% 45.5% 0.5% 8.1% 166.7%
D4: Twin Peaks  $  1,755,000  $  1,989,360 33 23 112.7% 2.2% -1.1% 26.9% 9.3% 18.5% 32.0%
D5: Central  $  1,255,000  $  1,353,357 14 22.14 107.8% -4.8% -4.8% 41.7% -7.1% -1.1% 13.3%
D6: Central North  $  2,622,500  $  2,622,500 2 14 110.2% -41.2% -34.5% -33.3% -26.6% -26.3% -60.0%
D7: North  $  6,200,000  $  8,733,367 15 45 98.3% -27.5% 1.9% 50.0% 19.2% 73.7% 87.5%
D8: Northeast  $  4,400,000  $  4,400,000 1 7 110.1% 79.6% 79.6% 0.0% 42.5% 42.5% -50.0%
D9: Central East  $  1,600,000  $  1,876,609 23 29 111.0% -5.5% -1.3% 4.5% -6.0% -0.7% 64.3%
D10: Southeast  $     929,000  $     956,344 22 40 105.3% 4.9% 8.1% 2.7% -10.5% -4.5% 18.8%

 

April Sales Statistics
(Condos/TICs/Co-ops/Lofts)
  Prices Unit     Yearly Change Monthly Change
  Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco  $  1,250,000  $  1,365,011 305 37 104.4% 1.4% 2.0% 8.2% 0.2% 3.0% 21.0%
D1: Northwest  $  1,410,000  $  1,523,730 25 35 104.8% -7.5% -1.3% 31.6% 8.5% 5.9% 78.6%
D2: Central West  $  1,387,500  $  1,387,500 2 14 121.0% 18.1% 22.4% -75.0% -2.6% -1.5% -33.3%
D3: Southwest  $     950,000  $     958,000 5 47 101.8% -19.5% -17.9% 66.7% -7.1% -6.3% 150.0%
D4: Twin Peaks  $  1,100,000  $     975,000 5 41 99.8% 14.0% -12.0% 0.0% 46.4% 24.2% 25.0%
D5: Central  $  1,490,000  $  1,537,331 44 20 113.0% -0.7% 4.7% -6.4% 4.6% 4.4% 37.5%
D6: Central North  $  1,190,000  $  1,201,864 22 16 111.2% 9.7% -1.5% -26.7% 13.5% 8.9% -15.4%
D7: North  $  1,575,000  $  1,761,070 25 37 102.3% 12.6% 2.2% -26.5% 1.6% -4.8% 31.6%
D8: Northeast  $  1,062,500  $  1,187,500 54 52 101.0% -15.6% -24.1% 86.2% -1.2% -18.0% 54.3%
D9: Central East  $  1,241,250  $  1,387,543 110 38 101.9% 13.9% 12.5% 2.8% 4.7% 12.9% 31.0%
D10: Southeast  $     815,000  $     761,400 5 80 101.1% 2.5% -1.3% -28.6% -3.6% -1.1% 66.7%

Good Times And Complaints

May 3, 2019 -- Although there are plenty of trouble on which one could focus, overall, the U.S. economy isn't really one of them. The pace of economic growth has moved higher of late, incomes are rising, the labor market is solid and financial conditions remain favorable. Interest rates remain far closer to historic lows than to anything approximating historical norms, but yet, there always seems to be someone who isn't quite happy.

Still, expressions of concern, worry or outright unhappiness persist. Take, for example, the bleating of President Trump to the Federal Reserve, pressing them not just to cut short-term rates, but to hack a full percentage point off of current levels and re-start Large-Scale Asset Purchases (LSAPs), commonly called Quantitative Easing (QE). To what end? Years of low interest rates --including the present day -- have helped create nearly the longest period of economic growth in U.S. history (coming soon now) and unemployment at 50-odd year lows. By what measure are lower rates the answer at this time? What sort of beneficial message would be sent to markets and consumers by moving rates back toward emergency levels?

Lower rates won't necessarily help anyone all that much. We know that low rates aren't really what's holding back a more robust housing market, which is suffering more from a lack of product to buy and high prices than difficult or expensive financing conditions. Low rates will tend to bring more demand into a market that has little supply, pressing prices higher and depleting inventory further, and that would actually tend to curtail growth in sales, at least for existing homes. After a lackluster existing home sales report for March last week (representative of demand in late January and February), the National Association of Realtors reported a 3.8% increase in their Pending Home Sales Index for the period, so falling mortgage rates in March did spur some folks into the market in early spring, who have likely now eaten up much of the minor increase in available inventory we've seen of late, and will probably also cause a slight re-firming of price increases, which have only recently come back to earth after years of far outstripping income growth.

Construction spending was a little soft in March, falling by 0.9% compared to February. We already new that spending for residential construction was in a soft pattern, and this continue in March with a 1.8% decline, a third such fall, making it 6 of the last 7 months of slipping residential spending. Sales of new homes have been trending higher, and inventories are being trimmed, so it's likely that we'll see some improvement in residential outlays before long. Spending on commercial projects manages a nice 0.5% increase, making it four gains in a row, but it looks as though the short-term spate of public-works spending is over, as those projects saw 1.3% fewer dollar for the month.

Despite a little up and down wobble this week, interest rates and mortgage rates are not going anywhere fast. We did see an expected fall in mortgage rates this week, perhaps just a little more than expected, but that's probably not going to be repeated next week. Given that underlying interest rates have been largely steady, this week's decline may have been due to a continuing slackening in demand for mortgage money, as the Mortgage Bankers Association reported fourth consecutive weekly decline in new applications for mortgage, with most of the falloff coming from refinancing activity.

dxy$4523