SF Real Estate Data

Source Socketsite: http://www.socketsite.com

The chart above is from the excellent blog socketsite.com, which has a great post on the San Francisco Case Schiller Index.  From the chart, it would certainly appear that we’re at or near the bottom in terms of price declines.  Assuming there are no more hidden surprises in the national economy, my sense is that we are reaching a bottom.  The question is whether the current uptick shows that we have not only reached a bottom, but are once again starting to see some slow and steady appreciation.  It may very well drop down again and stay at the bottom for several months.

On the other hand, it may mimic the stock market and have a reasonably moderate bounce back, as people generally overreact both ways: when prices are going down people are afraid of paying too much then losing money, when prices are going up people are afraid of waiting too long then paying too much. Unlike the stock market, though, there are still a lot of complex issues in the real estate market that need resolving, from foreclosures to the FHA.

San Francisco Real Estate Market Activity Statistics

The above chart, from Altos Research, shows the “Market Action Index” for the four price tiers of San Francisco condos.  The market action index doesn’t measure a single specific stat, such as sales price or volume.  Instead, it is a combination of those stats and more, developed by Altos Research, to give a rough sense of what the market is doing.

From looking at this chart, it would appear that the bottom was closer to April and May, and that we are now doing substantially better.  As with all statistics, though, it’s important to keep in mind this is just one piece of data.  From what I’ve been seeing, there are still many short sales out there with the potential for a fair amount more to come.

The latest San Francisco Real Estatate Market Report is now available, click the image to download the full 10 page report.  As it states, the median condominium price in San Francisco right now is $649,000, and the 1217 condos have been on the market for an average of 118 days.

San Francisco Real Estate for the week of 2-27-2009:

The median condominium price in SAN FRANCISCO this week is $657,634. The 1044 condos have been on the market for an average of 95 days. The 1044 condos have been on the market for an average of 95 days.
Median List Price  $ 657,634

Average List Price:  $ 810,420

Least Expensive Listing: $150,000

Most Expensive Listing: $15,000,000

Asking Price per Square Foot: $634

Average Days on Market: 95

Total Inventory: 1044  

Absorbed This Week: 66

Percent of Properties with Price Reductions: 42%

Percent Relisted (reset DOM): 15%

Percent Flip (price increased): 2%

Median Size (sq ft): 1,107  

Median Number of Bedrooms: 2

Median Number of Bathrooms: 1.5

Median Age: 52

Note: Data is deemed reliable but not guaranteed.  I suggest reviewing multiple sources of data and discussing with a local, licensed professional. If you are looking for professional representation, I would be happy to provide a complimentary phone consultation so you can learn more about the services I offer.