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San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
San Francisco Condos 94115
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San Francisco Condos 94115

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San Francisco Condos 94115.

San Francisco Condos 94115.

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  • 1. San FranciscoMARKET UPDATE SAN FRANCISCO, CA 94115· Current Real Estate Market Conditions for Condos & Townhomes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics· Report for the week of March 12, 2012· Presented by Jon SterlingSoMa Condos & Loftsjon@climbsf.com415-691-7268 Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2010 Altos Research LLC
  • 2. City Overview Condos & Townhomes in Jon Sterling | www.clmb.co SAN FRANCISCO, CA This Week Real-Time Market Profile Trend The median list price in SAN Median List Price $ 622,500 == FRANCISCO, CA this week is $622,500. Average List Price $ 787,284 The 672 properties have been on the Asking Price Per Square Foot $ 586 == market for an average of 120 days. Average Days on Market (DoM) 120 ≠≠ Inventory of Properties Listed 672 == Most Expensive Listing $ 5,750,000 With inventory trending up but days- Least Expensive Listing $ 90,000 on-market trending down and the Average Age of Listing 41 Market Action Index essentially flat Percent of Properties with Price Decrease 16 % recently, conditions do not seem to Percent Relisted (reset DOM) n/a have strong up or down pull. Percent Flip (price increased) 3% Median House Size (sq ft) 1128 Median Number of Bedrooms 2.0 Median Number of Bathrooms 1.5 Supply and Demand Altos Research Value Statistics The market has not shown strong Market Action Index Sellers Advantage 32.6 ±+ directional trends in terms of supply The Market Action Index answers the question "Hows the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 and demand. However, inventory is implies a sellers advantage. Below 30, conditions give the advantage to the sufficiently low to keep us in the buyer. Sellers Market zone and prices have been moving upward as evidence. Trend Key: == Strong upward trend ≠≠ Strong downward trend ±+ No change = Slight upward trend ≠ Slight downward trend Characteristics per Quartile Quartile Median Price Sq. Ft. Beds Baths Age Inventory New Absorbed DOM Top/First $ 1,280,000 1670 2.0 2.0 27 168 13 11 110 Most expensive 25% of propertiesUpper/Second $ 749,000 1245 2.0 2.0 30 168 19 14 95 Upper-middle 25% of properties Lower/Third $ 534,991 935 1.0 1.0 21 168 16 13 103 Lower-middle 25% of propertiesBottom/Fourth $ 325,000 830 2.0 1.0 20 168 9 16 170 Least expensive 25% of propertiesPage 2 of 11 Monday March 12, 2012
  • 3. Condos & Townhomes in City Overview Jon Sterling | www.clmb.co SAN FRANCISCO, CA Median Price Price trends continued their recent uptrend this week. While still below the markets price high-point, weve seen a nice run recently. 7-day Average 90-day Average Quartile Prices Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels. First/Top Second/Upper Third/Lower Fourth/BottomPage 3 of 11 Monday March 12, 2012
  • 4. Condos & Townhomes in City Overview Jon Sterling | www.clmb.co SAN FRANCISCO, CA Price per Square Foot The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as theyre doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 7-day Average 90-day AveragePage 4 of 11 Monday March 12, 2012
  • 5. Condos & Townhomes in City Overview Jon Sterling | www.clmb.co SAN FRANCISCO, CA Market Action Index The SAN FRANCISCO market is currently in the Sellers Advantage zone (greater than 30). The 90-day Market Action Index stands at 32.61 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Three of the four quartiles of the market are in the Sellers Market zone with relatively low amounts of inventory given the current rate of demand for homes in the quartile. Notice that Quartile 1 (the highest-end price group) is showing weaker demand than the others. Its not uncommon that the premium segment of the market takes longer to sell than the rest of the group. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.Page 5 of 11 Monday March 12, 2012
  • 6. Condos & Townhomes in City Overview Jon Sterling | www.clmb.co SAN FRANCISCO, CA Days on Market The properties have been on the market for an average of 120 days. Half of the listings have come newly on the market in the past 49 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/BottomPage 6 of 11 Monday March 12, 2012
  • 7. Neighborhood Detail Condos & Townhomes in Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94115 This Week Real-Time Market Profile Trend The median list price in SAN Median List Price $ 699,000 ±+ FRANCISCO, CA 94115 this week is Average List Price $ 884,355 $699,000. The 58 properties have Asking Price Per Square Foot $ 568 ±+ been on the market for an average of Average Days on Market (DoM) 148 ≠≠ 148 days. Inventory of Properties Listed 58 == Most Expensive Listing $ 4,200,000 Inventory is up and Market Action is Least Expensive Listing $ 239,000 trending down recently. While days- Average Age of Listing 79 on-market appears to be trending Percent of Properties with Price Decrease 22 % lower, the overall conditions are Percent Relisted (reset DOM) n/a weakening a bit. Percent Flip (price increased) 0% Median House Size (sq ft) 1238 Median Number of Bedrooms 2.0 Median Number of Bathrooms 2.0 Supply and Demand Altos Research Value Statistics In the last few weeks the market has Market Action Index Sellers Advantage 31.4 ≠≠ achieved a relative stasis point in The Market Action Index answers the question "Hows the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 terms of sales to inventory. implies a sellers advantage. Below 30, conditions give the advantage to the However, inventory is sufficiently buyer. low to keep us in the Sellers Market zone so watch changes in the MAI. If Trend Key: == Strong upward trend ≠≠ Strong downward trend the market heats up, prices are ±+ No change = Slight upward trend ≠ Slight downward trend likely to resume an upward climb. Characteristics per Quartile Quartile Median Price Sq. Ft. Beds Baths Age Inventory New Absorbed DOM Top/First $ 1,587,000 2142 3.0 2.1 106 14 3 0 158 Most expensive 25% of propertiesUpper/Second $ 862,500 1300 2.0 1.8 105 14 1 0 108 Upper-middle 25% of properties Lower/Third $ 599,000 1081 2.0 1.0 85 15 3 0 172 Lower-middle 25% of propertiesBottom/Fourth $ 365,000 917 2.0 1.0 48 15 1 2 153 Least expensive 25% of propertiesPage 7 of 11 Monday March 12, 2012
  • 8. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94115 Median Price We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels. First/Top Second/Upper Third/Lower Fourth/BottomPage 8 of 11 Monday March 12, 2012
  • 9. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94115 Price per Square Foot The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 7-day Average 90-day AveragePage 9 of 11 Monday March 12, 2012
  • 10. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94115 Market Action Index The SAN FRANCISCO, 94115 market is currently in the Sellers Advantage zone (greater than 30). The 90-day Market Action Index stands at 31.39 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyers Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.Page 10 of 11 Monday March 12, 2012
  • 11. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94115 Days on Market The properties have been on the market for an average of 148 days. Half of the listings have come newly on the market in the past 116 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/BottomPage 11 of 11 Monday March 12, 2012

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