The median sales price for single-family, re-sale was down 3.3% in June from May. It was down 13.8% year-over-year. The average sales price for single-family, re-sale homes was down 5.4% month-over-month. Year-over-year, it was down 10.9%.

1. averages to eliminate monthly and
seasonal variations.
If you are planning on selling your property,
call me for a free comparative market
analysis.
The median sales price for single-family,
re-sale was down 3.3% in June from May.
It was down 13.8% year-over-year.
The average sales price for single-family,
re-sale homes was down 5.4% month-
over-month. Year-over-year, it was down
10.9%.
Sales of single-family, re-sale homes fell
13.9% year-over-year. There were 198
homes sold in San Francisco last month.
The average since 2000 is 214.
The median sales price for condos/lofts
was down 12.2% year-over-year.
The average sales price was down 7.3%
year-over-year.
Sales of condos/lofts fell 35.3% year-over-
year. There were 189 condos/lofts sold
last month. The average since 2000 is
230.
The sales price to list price ratio, or what
buyers are paying over what sellers are
asking, rose from 104.1% to 105% for
homes. The ratio for condos/townhomes
rose from 99.9% to 100.3%.
Average days on market, or the time from
when a property is listed to when it goes
into contract, was 25 for homes and 50
for condos/lofts.
Sales momentum…
for homes rose from –45.9 to –44.3.
Sales momentum for condos/lofts was
down 0.4 of a point to –
67.7.
Pricing
momentum…
for single-family homes
fell 1 point to –17.5.
Pricing momentum for
condos/lofts fell 1.3
points to –9.4.
Our momentum
statistics are based on
12-month moving
Sotheby's International Realty
117 Greenwich Street
San Francisco, CA 94111
Cell: (415) 819-2663
AnnieWilliamsSF@gmail.com
http://www.anniewilliamshomes.com
Annie Williams
ANNIE WILLIAMS | ANNIEWILLIAMSSF@GMAIL.COM | HTTP://WWW.ANNIEWILLIAMSHOMES.COM
Prices and Sales Continue to Drop
Local Market Trends July 2023
San Francisco
Jun 23 Month % May 23 Year % Jun 22
Median Price: 1,595,000
$ -3.3% 1,650,000
$ -13.8% 1,850,070
$
Average Price: 2,021,635
$ -5.4% 2,138,057
$ -10.9% 2,269,212
$
Home Sales: 198 7.6% 184 -13.9% 230
Sale/List Price Ratio: 105.0% 0.9% 104.1% -8.2% 114.4%
Days on Market: 25 -12.2% 28 53.7% 16
(Condominiums)
Jun 23 Month % May 23 Year % Jun 22
Median Price: 1,100,000
$ -4.3% 1,150,000
$ -12.2% 1,252,500
$
Average Price: 1,264,974
$ 6.3% 1,189,507
$ -7.3% 1,365,157
$
Condo Sales: 189 -14.5% 221 -35.3% 292
Sale/List Price Ratio: 100.3% 0.4% 99.9% -4.8% 105.3%
Days on Market: 50 -10.1% 56 32.5% 38
Trends at a Glance
(Single-family Homes)
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San Francisco Homes: Days on Market
© 2023 rereport.com

2. Jun 30, 2023 -- It's becoming both clearer and
more likely that the Fed will lift rates at its next meet-
ing in July, and based on comments this week from
Fed Chair Jay Powell, the potential also exists that
back-to-back increases could come over the next two
meetings, as a pair of moves is "not off the table", per
Mr. Powell. He also noted that "If you look at the data
over the last quarter, what you see is stronger than
expected growth, a tighter than expected labor mar-
ket, and higher than expected inflation."
That trio of factors gives the Fed plenty of reason to
resume its rate hiking campaign. Perhaps the only
items that might see the Fed extend their so-far one-
meeting "pause" are the unclear effects of this
spring's banking troubles and that there's little history
on how the economy and inflation will fully react to a
500 basis point increase in short-term rates over just
a year's time.
Could the central bank "skip" July, too? It's certainly
possible, as another six weeks of holding off would
likely do little damage in the inflation fight. However,
with few signs that the economy is rapidly slowing,
the labor market loosening measurably or inflation
cooling at a faster rate, there's not a lot of reason to
expect the Fed to hold their fire. That said, there is
still a month's worth of data due out before the next
Fed meeting, and a stronger nudge in the right direc-
tion on one or more of these fronts might be enough
proof that policy already in place is sufficient to reach
the Fed's goals, but probably not.
Economic growth is also getting a bit of support from
home building and sales, and thin inventories of
homes for sale in the existing housing market are
pushing at least some buyers over to the new con-
struction market. Sales of newly-constructed home
rose by a stout 12.2% in May, climbing to a 763,000
annual rate of sale, the fastest pace since February
2022. The surge in sales pulled the supply of new
homes down to 6.7 months at the current rate of sale,
with the 428,000 units available the fewest number in
more than a year. This should provide builders with
incentive to keep construction humming over at least
the next few months. To help move stock, builders
have been using incentives that include price conces-
sions and subsidizing financing, but those discounts
and offers are being used somewhat less often of
late, at least according to the National Association of
(Continued on page 4)
ANNIE WILLIAMS
SOTHEBY'S INTERNATIONAL REALTY
ANNIEWILLIAMSSF@GMAIL.COM
2 Local Market Trends | San Francisco |
Stronger Data, Firmer Rates
The chart above shows the National monthly
average for 30-year fixed rate mortgages as
compiled by http://www.freddiemac.com/.
July 2023
1.0% 3.0% 5.0% 7.0% 9.0%
01-10
07-10
01-11
07-11
01-12
07-12
01-13
07-13
01-14
07-14
01-15
07-15
01-16
07-16
01-17
07-17
01-18
07-18
01-19
07-19
01-20
07-20
01-21
07-21
01-22
07-22
01-23
30-Year Fixed Mortgage Rates
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San Francisco Homes: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2023 rereport.com
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco $1,595,000 $2,021,635 198 25 105.0% -13.8% -10.9% -13.9% -3.3% -5.4% 7.6%
D1: Northwest $2,330,000 $2,520,952 21 24 103.8% -6.8% 5.9% 31.3% 24.1% 6.3% 162.5%
D2: Central West $1,525,000 $1,520,286 32 22 115.2% -16.1% -20.0% -37.3% -4.7% -12.7% -13.5%
D3: Southwest $1,288,000 $1,468,182 11 18 115.8% -15.9% -9.3% 10.0% -4.6% 8.4% -26.7%
D4: Twin Peaks $1,700,000 $1,804,380 25 20 110.2% -20.6% -24.1% -26.5% -6.8% -7.9% 8.7%
D5: Central $1,803,000 $2,196,410 21 29 101.1% -35.7% -24.3% -44.7% -23.9% -20.6% -32.3%
D6: Central North $1,837,500 $1,815,850 6 32 121.3% -43.2% -40.4% 50.0% -33.8% -34.6% 200.0%
D7: North $4,797,500 $5,524,714 14 40 95.2% -24.7% 1.1% 75.0% -24.2% -18.0% 16.7%
D8: Northeast $3,700,000 $3,700,000 1 35 97.7% -26.0% -37.8% -75.0% n/a n/a n/a
D9: Central East $1,817,500 $2,018,500 26 25 104.5% -4.3% 3.6% 23.8% 23.6% 26.2% 85.7%
D10: Southeast $1,125,000 $1,128,805 39 25 108.3% -11.8% -14.4% -11.4% -5.1% -2.9% -9.3%
June Sales Statistics
(Single-family Homes)
Prices Yearly Change Monthly Change

3. Table Definitions
_______________
Median Price
The price at which 50% of prices
were higher and 50% were lower.
Average Price
Add all prices and divide by the
number of sales.
SP/LP
Sales price to list price ratio or the
price paid for the property divided
by the asking price.
DOI
Days of Inventory, or how many
days it would take to sell all the
property for sale at the current rate
of sales.
Pend
Property under contract to sell that
hasn’t closed escrow.
Inven
Number pf properties actively for
sale as of the last day of the month.
Local Market Trends | San Francisco | 3
July 2023
ANNIE WILLIAMS
SOTHEBY'S INTERNATIONAL REALTY
ANNIEWILLIAMSSF@GMAIL.COM
80.0%
85.0%
90.0%
95.0%
100.0%
105.0%
110.0%
115.0%
120.0%
125.0%
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A
San Francisco Homes: Sales Price to List Price Ratio
© 2023 rereport.com
-50.0
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San Francisco Homes: Sales Momentum
Sales Pricing © 2023 rereport.com
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San Francisco Condos: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2023 rereport.com
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco $1,100,000 $1,264,974 189 50 100.3% -12.2% -7.3% -35.3% -4.3% 6.3% -14.5%
D1: Northwest $1,150,000 $1,435,636 11 25 103.6% -20.4% 9.8% -15.4% -14.2% 4.8% -26.7%
D2: Central West $952,500 $1,040,750 4 25 100.8% -38.5% -40.9% 33.3% -32.7% -26.4% 100.0%
D3: Southwest $1,475,000 $1,475,000 1 42 105.4% 25.0% 46.0% -80.0% 38.4% 38.3% -75.0%
D4: Twin Peaks $980,000 $839,939 3 67 93.2% 9.0% -20.2% 0.0% 17.4% -11.8% -66.7%
D5: Central $1,227,500 $1,343,328 32 36 103.9% -18.2% -12.1% -54.3% -12.3% -7.7% -25.6%
D6: Central North $1,010,000 $1,108,597 24 42 102.9% -19.2% -14.1% -25.0% -15.5% -12.2% 9.1%
D7: North $1,601,500 $1,865,857 14 45 102.5% -5.8% 6.0% -48.1% 8.6% 20.1% -46.2%
D8: Northeast $922,000 $1,156,306 36 45 99.6% -12.2% -10.3% -12.2% 15.4% 20.8% 2.9%
D9: Central East $1,117,500 $1,256,170 56 56 96.7% -2.0% -0.5% -37.8% 33.0% 26.6% -5.1%
D10: Southeast $898,500 $892,167 6 218 98.1% 30.7% 24.7% -25.0% 6.4% 21.7% 50.0%
June Sales Statistics
(Condos/TICs/Co-ops/Lofts)
Prices Yearly Change Monthly Change

4. San Francisco
This Real Estate Report is published and copyrighted by http://rereport.com.
Information contained herein is deemed accurate and correct, but no warranty is implied or given.
Annie Williams
Sotheby's International Realty
117 Greenwich Street
San Francisco, CA 94111
Go online to see the full report with the district by district breakdown: https://rereport.com/sf/aw/
Home Builders. The median price of a new home
sold in May was $416,300, turning higher again
after a meaningful decline from last October's
$496,800 peak, probably reflect the lessened use
of price cuts by builders last month.
Price discounts and financing help are far less com-
mon in the existing home market, but may become
more of a part of the marketing arsenal if mortgage
rates don't show a meaningful decline
soon. Sales of existing homes are only
perking along at a modest level, one that
is likely to become even more modest in
the coming month or two. The National
Association of Realtors Pending Home
Sales Index for May posted a 2.7% de-
cline; this measure of purchase contracts
signed suggests that existing home sales
for June and July will struggle to hold
present levels of about 4.3 million
(annualized). The PHSI has now posted
declines in each of the last three months,
usually the busiest time of year for hous-
ing.
Despite mortgage rates closer to recent
highs than not, applications for mortgages
managed a small increase last week. In
(Continued from page 2) the week ending June 25, the Mortgage Bankers
Association reported a 3% increase in requests for
mortgage credit, a third consecutive gain. Applica-
tions for purchase-money mortgages rose by 2.8%;
those to refinance existing loans managed a 3.3%
bump. A holiday is on tap again for next week and
mortgage rates seem poised to rise a bit more in
the coming days, and this will probably break the
unexpected streak of small increases in applica-
tions seen over the last few weeks.
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Condos 730 1,218 1,311 1,542 1,581 1,575 1,447 1,315 1,420 1,545 1,460 959 2,234 1,775 1,096
Homes 835 1,167 1,184 1,258 1,367 1,095 1,265 1,228 1,039 1,071 1,038 748 1,386 1,256 881
0
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1,500
2,000
2,500
3,000
3,500
4,000
Property Sales
(Year-to-Date)
© 2023 rereport.com