Prices and Sales Continue to Drop. The median sales price for single-family, re-sale was up 5.1% in May from April. It was down 17.8% year-over-year. The average sales price for single-family, re-sale homes was down 0.5% month-over-month. Year-over-year, it was down 10.7%. Sales of single-family, re-sale homes fell 32.4% year-over-year. There were 184 homes sold in San Francisco last month. The average since 2000 is 214. #sothebys #sanfranciscorealestate #luxuryhomesforsale

1. 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 up 5.1% in May from April. It
was down 17.8% year-over-year.
The average sales price for single-family,
re-sale homes was down 0.5% month-
over-month. Year-over-year, it was down
10.7%.
Sales of single-family, re-sale homes fell
32.4% year-over-year. There were 184
homes sold in San Francisco last month.
The average since 2000 is 214.
The median sales price for condos/lofts
was down 4.2% year-over-year.
The average sales price was down 14.6%
year-over-year.
Sales of condos/lofts fell 35.4% year-over-
year. There were 221 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 101.5% to 104.1% for
homes. The ratio for condos/townhomes
rose from 98.4% to 99.9%.
Average days on market, or the time from
when a property is listed to when it goes
into contract, was 28 for homes and 56
for condos/lofts.
Sales momentum…
for homes dropped from –38.4 to –45.9.
Sales momentum for condos/lofts was
down 5.1 points to –67.
Pricing
momentum…
for single-family homes
fell 2.7 points to –16.5.
Pricing momentum for
condos/lofts fell 0.2 of a
point to –8.1.
Our momentum
statistics are based on
12-month moving
averages to eliminate
monthly and seasonal
variations.
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 June 2023
San Francisco
May 23 Month % Apr 23 Year % May 22
Median Price: 1,650,000
$ 5.1% 1,570,000
$ -17.8% 2,007,500
$
Average Price: 2,138,057
$ -0.5% 2,148,830
$ -10.7% 2,394,373
$
Home Sales: 184 11.5% 165 -32.4% 272
Sale/List Price Ratio: 104.1% 2.5% 101.5% -9.9% 115.6%
Days on Market: 28 -8.9% 31 53.2% 18
(Condominiums)
May 23 Month % Apr 23 Year % May 22
Median Price: 1,150,000
$ -1.9% 1,172,500
$ -4.2% 1,200,000
$
Average Price: 1,189,507
$ -13.7% 1,378,035
$ -14.6% 1,392,806
$
Condo Sales: 221 5.2% 210 -35.4% 342
Sale/List Price Ratio: 99.9% 1.5% 98.4% -6.5% 106.9%
Days on Market: 56 1.8% 55 55.6% 36
Trends at a Glance
(Single-family Homes)
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San Francisco Homes: Days on Market
© 2023 rereport.com

2. Jun 2, 2023 -- It's starting to feel like any decision to
pause rate hikes by the Fed -- even for a single
meeting -- is going to be a close call. The Fed has
theoretically moved to a more data-dependent deci-
sion process for monetary policy, as it tries to man-
age both the lagged economic effects of previous
rate hikes and the forward uncertainty created by
bank stresses earlier this spring. Since the last Fed
meeting, the available data hasn't suggested much
by way of a continued cooling in the economy, addi-
tional slackening in the labor market or a more appre-
ciable downturn for prices, making the upcoming
decision on holding rates steady rather less certain
than it seemed a few weeks ago.
Should an economic downturn come, and depending
on the shape and form that it takes, the overall hous-
ing market may actually do surprisingly well in such
conditions. Most typically, the drop in overall demand
for goods and services helps lower inflation; this in
turn helps lower long-term mortgage rates, sparking
refinancing and luring potential homebuyers back into
the market, and of course the Fed may look to cut
rates, too. Of course, much well the housing market
does would depend on how the job market performs
during this time as well as other factors, but it's not
uncommon for the housing market to lead the way
out of a recession.
We don't have a recession right now, and we certain-
ly don't have the low interest rates (or other condi-
tions) that would help stoke the housing market. The
opposite of this is more the case at the moment, and
headwinds remain, but that's not to say there are no
signs of life here and there for housing.
For example, existing home sales remain burbling
along at a low level. Sales did decline a little bit more
in April, falling by 3.4% compared to March, and are
about 21% below year ago levels. That's actually an
improvement of sorts, since existing home sales
were down by 37% compared to a year ago as re-
cently as February. Year-ago comparisons will start
to look more favorable before long; for example, if the
present annual rate of sales holds through July, the
same year-ago comparison will show just a 12.3%
decline, and so on.
This is also something to consider when looking at
what's happening with home prices. On a monthly
basis, the median price of an existing home sold
(Continued on page 4)
ANNIE WILLIAMS
SOTHEBY'S INTERNATIONAL REALTY
ANNIEWILLIAMSSF@GMAIL.COM
2 Local Market Trends | San Francisco |
Uncertainty Regarding Pause Increasing
The chart above shows the National monthly
average for 30-year fixed rate mortgages as
compiled by http://www.freddiemac.com/.
June 2023
1.0% 3.0% 5.0% 7.0% 9.0%
01-10
07-10
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07-22
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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 $1,650,000 $2,138,057 184 28 104.1% -17.8% -10.7% -32.4% 5.1% -0.5% 11.5%
D1: Northwest $1,877,500 $2,372,559 8 9 101.7% -35.8% -16.5% -65.2% -26.4% -46.0% -46.7%
D2: Central West $1,600,000 $1,741,670 37 15 117.5% -14.9% -2.7% -38.3% 6.7% 8.3% 19.4%
D3: Southwest $1,350,000 $1,354,659 15 43 105.7% 12.5% 7.3% -11.8% 8.0% 4.7% 36.4%
D4: Twin Peaks $1,825,000 $1,958,866 23 20 108.9% -14.1% -4.1% -25.8% 1.4% -4.7% 9.5%
D5: Central $2,370,000 $2,765,257 31 33 103.2% -10.6% -15.2% -16.2% -7.1% -3.8% 63.2%
D6: Central North $2,775,000 $2,775,000 2 12 114.6% -25.5% -18.4% -75.0% -19.3% -16.5% -33.3%
D7: North $6,325,000 $6,741,492 12 49 92.9% 6.3% 3.8% 50.0% 32.9% 45.6% 100.0%
D8: Northeast $0 $0 0 0 0.0% n/a n/a n/a n/a n/a n/a
D9: Central East $1,470,000 $1,598,857 14 29 99.5% -33.2% -18.5% -53.3% -8.3% -13.0% 0.0%
D10: Southeast $1,185,000 $1,162,895 43 32 107.8% -1.3% -6.8% -15.7% 11.3% 2.8% 26.5%
May 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
June 2023
ANNIE WILLIAMS
SOTHEBY'S INTERNATIONAL REALTY
ANNIEWILLIAMSSF@GMAIL.COM
80.0%
85.0%
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San Francisco Homes: Sales Price to List Price Ratio
© 2023 rereport.com
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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 $1,150,000 $1,189,507 221 56 99.9% -4.2% -14.6% -35.4% -1.9% -13.7% 5.2%
D1: Northwest $1,340,000 $1,369,300 15 25 102.5% -21.8% -22.4% 87.5% 11.2% 13.0% 50.0%
D2: Central West $1,415,000 $1,415,000 2 18 101.2% 17.9% 6.0% -33.3% 15.5% 21.1% -75.0%
D3: Southwest $1,066,000 $1,066,750 4 55 97.7% 37.3% 37.4% 100.0% 27.1% 27.1% 100.0%
D4: Twin Peaks $835,000 $952,000 9 75 99.8% 4.4% 36.6% 28.6% 98.6% 67.0% 200.0%
D5: Central $1,400,000 $1,455,532 43 39 100.1% -3.9% -9.9% -25.9% 12.0% 3.4% -4.4%
D6: Central North $1,195,000 $1,262,000 22 46 100.8% 13.9% 8.6% -37.1% -9.3% 3.8% 37.5%
D7: North $1,475,000 $1,553,146 26 43 100.5% -22.4% -19.3% -39.5% -6.2% -25.6% -7.1%
D8: Northeast $799,000 $957,286 35 50 99.3% -20.1% -23.0% -42.6% -6.0% -28.6% 12.9%
D9: Central East $840,000 $992,063 59 86 98.1% -14.0% -4.9% -46.4% -14.1% -19.1% -10.6%
D10: Southeast $844,500 $733,276 4 54 102.5% 15.8% 13.1% -50.0% -5.6% -18.1% 300.0%
May 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/
peaked in June 2022 at $413,800; by January of
this year, it hit a seasonal bottom of $361,200 --
about a 12.7% decline. Since that bottom, that
same median price has picked up by 7.6% to
$388,800 -- and is only about 6% below last year's
peak. Direct annual comparisons -- e.g. April to
April, May to May, etc. -- will continue to look highly
unfavorable, since prices in 2022 were still increas-
ing until June while prices in 2023 aren't likely to
firm up a whole lot more unless mortgage rates
decline meaningfully and spark more
buyer demand.
As has been the case, tight inventories of
homes for sale continues to provide sup-
port for prices, but also serves to throttle
the volume of sales. The traditional spring
homebuying season is looking like a mod-
est one at best this year amid still-
considerable headwinds. With a measure
of pending home sales (signed contracts
to buy) fading or only holding steady at a
low level, it doesn't appear that even the
current modest level of demand that has
helped prop up prices this spring is likely
to continue. As such, home prices may
resume settling as the year progresses.
(Continued from page 2) Rather opposite conditions are being seen in the
market for newly constructed homes. When sales
slowed appreciably last year from high interest
rates and high new home costs, builders began to
take steps to stem and reverse the downtrend,
offering things not available in the existing home
market, such as considerable price concessions or
subsidized financing offers. As well, the new con-
struction market offers supply elasticity -- that is,
more homes can be built to meet demand. At the
same time, it is true that most large-scale residen-
tial housing construction takes place at greater
distances from center cities, and so isn't a direct
substitute or exchange for a greater supply of exist-
ing homes to buy, and is not a perfect fit for all buy-
ers.
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Condos 548 969 1,073 1,202 1,308 1,289 1,156 1,047 1,097 1,246 1,196 780 1,786 1,483 907
Homes 628 934 919 991 1,116 903 1,048 983 810 840 848 582 1,079 1,026 683
0
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Property Sales
(Year-to-Date)
© 2023 rereport.com