April SF Market Tracker Newsletter
The Year of the House carries over to 2021
The all-time high median sales price for a house in San Francisco was $1.780 in Feb 2018. In March 2021, we were nearly there at $1.748M, a 10% increase since last year!
Single-family homes in San Francisco have always been desirable, but the pandemic made these properties more coveted than ever! Demand doesn’t seem to have cooled off as vaccines roll out and California businesses get closer to “normal.” Folks who were waiting to buy because of pandemic uncertainties don’t seem to be waiting anymore, as consumers feel more and more hopeful!
Here Come the Condos!
Condos, on the other hand, had a tough 2020. Inventory stacked up and prices declined month after month from July 2020 until February and March 2021. Since then median sales prices have increased each month. More condos were sold in the month of March 2021 than ever before in SF History! 407 sales smashed the previous monthly record of 328, set in May 2013.
The condo market appears to have recovered incredibly quickly in February and March. These properties are selling almost as quickly as they are coming on the market.
Numbers To Know According To Our Local MLS
New Listings are up 36.4%
Active listings are up 25.9%
Sold listings are up 85.1%
Pending listings are up 105.9%
Months’ supply is 3.9%
The ratio of sales price to list price is up 104.2%
Keep in mind that the above monthly market report is a general overview of all MLS data combined, and the market is constantly changing. Additionally, each neighborhood has its own micro-market, so if you are interested in a certain area or want to know what your home is worth, contacting us is the best way to get an accurate picture. If you need additional information or have questions, feel free to give us a call!
News from around the Bay
Is there anything better than outdoor dining during the warm, sunny months? Restaurants across the Bay Area are starting to reopen as restrictions are lifted. As more residents and front-line workers get vaccinated, supporting our local food and beverage scene is a wonderful way to put money back into our local economy. For the Ultimate Guide to Outdoor Dining in San Francisco, click here.
With spring officially here, it can be a great time to spruce up your property and maintain its curb appeal, whether you’re thinking of selling or not. This great article has 15 tips like creating an outdoor social zone, adding landscape lighting, giving your mailbox an update, and more. Finish reading here.