SF Real Estate Blog

From Altos Research:

The median single family home price in SAN FRANCISCO this week is $921,500. The 614 homes have been on the market for an average of 105 days.

 

Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Photo from flickr by forstonsr

An article on CNN today titled “Signs of Life in California Real Estate” was positive overall, though they’ve learned from the past to hedge their bets when it comes to predictions. In short, the article was pointing to first time buyers coming into the market, lured by low prices, along with investors lured by returns (19% was the return for one investor in the article buying a townhome in Sacramento).

The Good:

Low prices have brought out droves of buyers. In February, they purchased more than 600,000 homes, some 80% more than they bought in February 2007, according to CAR. And most of this activity is where prices are off 40% to 60% from their peaks.

The Bad:

Most analysts foresee continued price declines in California, according to Nicholas Retsinas, director of Harvard’s Joint Center for Housing Studies. “But [there'll be] a slowing of that decline, which portends the end of price drops.”

 

CNN:  ”Signs of Life in California Real Estate“

For any realtors and real estate agents reading this, or even homeowners looking to sell on their own, I also have a blog about real estate marketing and strategy, www.resonantblog.com. I’ve posted a few examples of work I’ve done marketing my past listings, a tutorial on using google maps, and more.

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.

News about the Stimulus plan From Realtor.com:

 - To promote green jobs and energy independence, ARRA invests significantly in efforts to make homes and buildings more energy efficient.  The bill provides state and local governments with $6 billion in energy efficiency and conservation grants for energy audits, retrofits and financial incentives.  Through 2010, homeowners will be able to claim a 30% tax credit (up from 10%) for purchases of new furnaces, windows and insulation.  Another $5 billion will be available to modernize the nation’s electricity grid and install smart meters on homes that help to save consumers money.  There is also $5 billion for weatherization assistance for low income households and $2 billion for federally assisted housing ( section 8 ) efficiency efforts. 

The latest real estate pricing for SF BLU in San Francisco:

• 6A, two bedroom two bath condo with city views: $958,500
• 15A, two bedroom two bath condo with city and west views: $1,162,400
• 7B, two bedroom two bath condo: $832,550
• 9B, two bedroom two bath condo: $860,000
• 2C, two bedroom two bath with private deeded outdoor space: $915,000
• 14C, two bedroom two bath with city and west views: $1,026,350
• 6D, two bedroom plus den, two bath overlooking the urban garden on 2nd floor: $934,550
• 18D, two bedroom plus den, two bath with bay, ballpark and west views: $1,276,083
• 3E, two bedroom two bath overlooking the urban garden on 2nd floor: $739,800
• 11E, two bedroom two bath: $821,312
• 5F, two bedroom two bath overlooking the urban garden on 2nd floor: $905,300
• PHA, Penthouse three bedroom, two and a half bath with incredible city and bay views: $3,395,000