San FranciscoMARKET UPDATE                                                                           SAN FRANCISCO, CA    ...
City Overview                                                                                                 Condos & Tow...
Condos & Townhomes in  City Overview  Jon Sterling | www.clmb.co                                                          ...
Condos & Townhomes in  City Overview  Jon Sterling | www.clmb.co                                                          ...
Condos & Townhomes in  City Overview  Jon Sterling | www.clmb.co                                                          ...
Condos & Townhomes in  City Overview  Jon Sterling | www.clmb.co                                                          ...
Neighborhood Detail                                                                                          Condos & Town...
Condos & Townhomes in  Neighborhood Detail  Jon Sterling | www.clmb.co                                                    ...
Condos & Townhomes in  Neighborhood Detail  Jon Sterling | www.clmb.co                                                    ...
Condos & Townhomes in   Neighborhood Detail   Jon Sterling | www.clmb.co                                                  ...
Condos & Townhomes in  Neighborhood Detail  Jon Sterling | www.clmb.co                                                    ...
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San Francisco Real Estate Market Update 94107

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San Francisco Real Estate Market Update 94107

  1. 1. San FranciscoMARKET UPDATE SAN FRANCISCO, CA 94107· 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 19, 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. 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 $ 625,000 == FRANCISCO, CA this week is $625,000. Average List Price $ 785,754 The 678 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 678 == Most Expensive Listing $ 4,500,000 Inventory is up and Market Action is Least Expensive Listing $ 49,000 trending down recently. While days- Average Age of Listing 40 on-market appears to be trending Percent of Properties with Price Decrease 17 % lower, the overall conditions are Percent Relisted (reset DOM) n/a weakening a bit. Percent Flip (price increased) 2% Median House Size (sq ft) 1130 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 32.5 ≠≠ 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 $ 1,275,000 1670 2.0 2.0 24 169 20 15 111 Most expensive 25% of propertiesUpper/Second $ 749,000 1245 2.0 2.0 28 169 21 22 94 Upper-middle 25% of properties Lower/Third $ 538,000 941 1.0 1.0 21 170 14 15 105 Lower-middle 25% of propertiesBottom/Fourth $ 322,425 822 2.0 1.0 20 170 15 13 171 Least expensive 25% of propertiesPage 2 of 11 Monday March 19, 2012
  3. 3. Condos & Townhomes in City Overview Jon Sterling | www.clmb.co SAN FRANCISCO, CA Median Price This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks. 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 19, 2012
  4. 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 19, 2012
  5. 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 32.45 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 19, 2012
  6. 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 19, 2012
  7. 7. Neighborhood Detail Condos & Townhomes in Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94107 This Week Real-Time Market Profile Trend The median list price in SAN Median List Price $ 599,000 ±+ FRANCISCO, CA 94107 this week is Average List Price $ 760,606 $599,000. The 88 properties have Asking Price Per Square Foot $ 586 ≠≠ been on the market for an average of Average Days on Market (DoM) 96 ≠≠ 96 days. Inventory of Properties Listed 88 == Most Expensive Listing $ 2,925,000 Inventory is up and Market Action is Least Expensive Listing $ 99,367 trending down recently. While days- Average Age of Listing 19 on-market appears to be trending Percent of Properties with Price Decrease 8% lower, the overall conditions are Percent Relisted (reset DOM) n/a weakening a bit. Percent Flip (price increased) 1% Median House Size (sq ft) 1094 Median Number of Bedrooms 2.0 Median Number of Bathrooms 2.0 Supply and Demand Altos Research Value Statistics The market has shown some Market Action Index Buyers Advantage 29.9 ≠≠ evidence of slowing recently. Both 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 prices and inventory levels are implies a sellers advantage. Below 30, conditions give the advantage to the relatively unchanged in recent buyer. weeks. Watch the Market Action Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend leading indicator for price changes. ±+ 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 $ 1,122,000 1689 2.0 2.0 8 22 3 2 97 Most expensive 25% of propertiesUpper/Second $ 669,500 1113 2.0 2.0 8 22 0 4 57 Upper-middle 25% of properties Lower/Third $ 529,000 855 1.0 1.5 8 22 2 1 144 Lower-middle 25% of propertiesBottom/Fourth $ 377,000 820 1.0 1.0 8 22 3 1 85 Least expensive 25% of propertiesPage 7 of 11 Monday March 19, 2012
  8. 8. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94107 Median Price Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels. 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 19, 2012
  9. 9. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94107 Price per Square Foot While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money. 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 19, 2012
  10. 10. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94107 Market Action Index The SAN FRANCISCO, 94107 market is currently in the Buyers Advantgae zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 29.85 so buyers should expect to find reasonable levels of selection. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Three of the four quartiles of this zip code are in the Buyers Market zone with several months of inventory given the current levels of demand. Quartile 3 (the low-middle price group) is showing stronger demand than the others, a Sellers market. 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 19, 2012
  11. 11. Condos & Townhomes in Neighborhood Detail Jon Sterling | www.clmb.co SAN FRANCISCO, CA 94107 Days on Market The properties have been on the market for an average of 96 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 11 of 11 Monday March 19, 2012

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