The document summarizes real estate market statistics for San Francisco for the month of January 2020. It provides data on median and average home prices, home and condo/townhome sales, days on market, and price to sales ratio. Key findings include that median home prices rose 6.1% year-over-year while sales fell 5.1%. Median condo/townhome prices rose 13.7% year-over-year as sales increased 28.1%. Low housing inventory continues to constrain sales growth despite lower mortgage rates driven by coronavirus concerns.

1. This is an extraordinarily tough market for
buyers. It's important to be calm and
realistic. If you don't know what to do or
where to begin, give me a call and let's
discuss your situation and your options.
The median sales price for single-family,
re-sale homes rose 6.1% year-over-year. It
was up 0.7% from December.
The average sales price gained 27.7%
year-over-year. It was up 13.4% compared
to December.
Sales of single-family, re-sale homes fell
5.1% year-over-year. Sales were off 46.2%
from December. That is typical for
December/January. There were 93 homes
sold last month.
The median sales price for
condos/townhomes was up 13.7% year-over-
year. It was down 2.3% from December.
The average sales price was up 12.7%
year-over-year. It was up 3.5% from
December.
Sales of condos/townhomes rose 28.1%
year-over-year. Sales were down 27.7%
from December. There were 146
condos/townhomes sold last month.
The sales price to list price ratio, or what
buyers are paying over what sellers are
asking, dropped to 105.1% from 107.9% for
homes, and, it went down to 103.2% from
104.5% for condos/townhomes.
Average days on market, or the time from
when a property is listed to when it goes
into contract, was 31 for homes and 46 for
condos/lofts.
for homes fell 0.4 of a point to –2.8. Sales
momentum for condos/townhomes was up
2.4 points to –3.7.
for single-family homes
rose 0.1 of a point to
+1.4. Pricing momentum
for condos/townhomes
gained 1.3 points to
+4.6.
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
DRE #01393923
Annie Williams & Miriam Wells
ANNIE WILLIAMS & MIRIAM WELLS | ANNIEWILLIAMSSF@GMAIL.COM | HTTP://WWW.ANNIEWILLIAMSHOMES.COM
Jan 20 Month % Dec 19 Year % Jan 19
Median Price: 1,460,000$ 0.7% 1,450,000$ 6.1% 1,376,500$
Average Price: 2,218,177$ 13.4% 1,956,607$ 27.7% 1,736,696$
Home Sales: 93 -46.2% 173 -5.1% 98
Sale/List Price Ratio: 102.4% -2.6% 105.1% -1.6% 104.1%
Days on Market: 37 19.1% 31 -7.5% 40
(Condominiums)
Jan 20 Month % Dec 19 Year % Jan 19
Median Price: 1,182,500$ -2.3% 1,210,000$ 13.7% 1,040,000$
Average Price: 1,326,575$ 3.5% 1,282,047$ 12.7% 1,177,310$
Home Sales: 146 -27.7% 202 28.1% 114
Sale/List Price Ratio: 100.2% -3.0% 103.2% 0.1% 100.1%
Days on Market: 62 34.1% 46 12.4% 55
Trends at a Glance
(Single-family Homes)
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San Francisco Homes: Sales Momentum
Sales Pricing © 2019 rereport.com

2. Jan. 31, 2020 -- Although the spreading coronavirus
probably doesn't meet the classic definition of a
pandemic just yet, that's less the case for investor
psyches, where concerns about the impacts of the
spreading disease have caused widespread
selloffs of riskier assets such as equities this week.
In turn, those funds have been flowing strongly into
safe-haven investments such as Treasury and
other sovereign bonds (and to a lesser degree,
Mortgage-Backed Securities), driving yields and
mortgage rates down in kind.
It's still too early to know the full impact, but it
seems likely that there will be at least some eco-
nomic slowing in some economies around the
globe, but where and how much have yet to play
out. While unfortunate in many ways on a broad
scale -- not the least of which for those who have
been or will be directly impacted -- it is fortunate
for American mortgage shoppers, who are seeing
rates again approaching multi-year lows. This
week's average rate for a conforming 30-year FRM
is only 20 basis points above (what were then) 60+
year lows achieved back in 2012, and although
rates may not fall that far, the economic conditions
in which they are occurring (a record-long expan-
sion, near-full employment, rising incomes) means
that there is a chance that more folks will be in a
position to take advantage of them.
Or at least they would, if interest rates hadn't been
for the most part within about a percentage point of
these rate for the past few years. Incrementally
lower rates should mean incremental increases in
refinance activity, and may, but there have been
an awful lot of refinances at rates near enough to
today's levels over that time as to have tempered
any pent-up demand. Still, we should see a boost
in activity, even above the 7.5% increase in appli-
cations for refinance mortgages reported by the
Mortgage Bankers Association of America in the
week ending January 24... and rates have moved
lower this week again.
Can lower rates help create more home sales?
Yes... but since there is a dearth of homes availa-
ble to buy on the market (inventory levels of exist-
ing homes were at about a 20-year low in Decem-
ber, according to the National Association of Real-
tors) so a ramp up in sales seems unlikely. In fact,
the Realtors reported that their Pending Home
Sales Index dropped by 4.9% in December, with
(Continued on page 4)
ANNIE WILLIAMS & MIRIAM WELLS
SOTHEBY'S INTERNATIONAL REALTY
ANNIEWILLIAMSSF@GMAIL.COM
DRE #01393923
The chart above shows the National month-
ly average for 30-year fixed rate mortgages
as compiled by http://
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30-Year Fixed Mortgage Rates
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco $1,460,000 $2,218,177 93 37 102.4% 6.1% 27.7% -5.1% 0.7% 13.4% -46.2%
D1: Northwest $1,670,000 $1,768,571 7 32 106.5% 6.0% -16.1% -36.4% -23.7% -16.3% -53.3%
D2: Central West $1,445,000 $1,502,150 20 47 109.0% 5.2% 5.5% 11.1% 4.3% 2.2% -23.1%
D3: Southwest $1,250,000 $1,211,429 7 44 109.0% 31.4% 22.8% 16.7% 11.1% 0.9% -56.3%
D4: Twin Peaks $1,550,000 $1,765,867 9 33 105.5% -8.8% 11.1% 0.0% -3.9% -3.3% -59.1%
D5: Central $3,035,000 $3,455,125 16 28 101.3% 19.0% 23.9% 23.1% 17.9% 32.1% -27.3%
D6: Central North $3,550,000 $3,550,000 1 14 129.1% 97.2% 76.9% -66.7% 19.1% 26.3% -83.3%
D7: North $4,675,000 $5,187,500 4 41 95.5% -0.4% 22.6% 33.3% 1.6% -19.7% -42.9%
D8: Northeast $14,975,000 $14,975,000 2 72 90.8% 551.1% 589.0% -33.3% 141.5% 123.0% -33.3%
D9: Central East $1,460,000 $1,453,000 5 35 107.2% 12.3% 9.7% -44.4% -0.2% -7.3% -68.8%
D10: Southeast $990,308 $1,031,710 22 34 110.0% 6.6% 7.9% 0.0% -1.6% -3.2% 90.5%
January Sales Statistics
(Single-family Homes)
Prices Yearly Change Monthly Change
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San Francisco Homes: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2020 rereport.com

3. ANNIE WILLIAMS & MIRIAM WELLS
SOTHEBY'S INTERNATIONAL REALTY
ANNIEWILLIAMSSF@GMAIL.COM
DRE #01393923
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco $1,182,500 $1,326,575 146 62 100.2% 13.7% 12.7% 28.1% -2.3% 3.5% -27.7%
D1: Northwest $1,495,000 $1,505,417 12 57 104.6% 25.9% 23.1% 200.0% 24.6% 12.9% 71.4%
D2: Central West $765,000 $765,000 2 99 99.0% -20.1% -20.1% 0.0% -50.7% -47.2% -33.3%
D3: Southwest $830,000 $889,667 3 87 98.0% n/a n/a n/a -7.8% 3.1% 0.0%
D4: Twin Peaks $732,500 $715,000 4 93 92.1% 13.0% 6.3% -20.0% -3.0% -6.0% -63.6%
D5: Central $1,425,000 $1,385,233 21 75 102.6% 13.5% 2.4% 50.0% -5.0% -13.0% -36.4%
D6: Central North $1,187,500 $1,220,523 12 46 104.2% 52.7% 17.9% 100.0% 16.1% 5.2% -33.3%
D7: North $1,620,000 $1,639,421 19 46 98.3% 36.1% 11.5% 35.7% 3.7% -6.6% -13.6%
D8: Northeast $1,140,000 $1,413,311 29 63 99.1% 16.9% 24.6% 61.1% 3.6% 23.4% -23.7%
D9: Central East $1,145,500 $1,197,379 44 61 98.9% 15.7% 0.1% 12.8% 4.1% -0.3% -31.3%
D10: Southeast $765,000 $765,000 2 99 96.1% -5.0% -0.5% -60.0% 21.4% 19.8% -33.3%
January Sales Statistics
(Condos/TICs/Co-ops/Lofts)
Prices Yearly Change Monthly Change
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San Francisco Homes: Sales Price to List Price Ratio
© 2020 rereport.com
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San Francisco Condos/Lofts: SalesMomentum
Sales Pricing © 2020 rereport.com
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San Francisco Condos: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2020 rereport.com

4. Annie Williams & Miriam Wells
Sotheby's International Realty
117 Greenwich Street
San, Francisco, CA 94111
the decline attributed to a lack of homes for sale
and a spike in home prices toward the end of
2019 that has again crimped affordability.
Some potential borrowers may look to new con-
struction instead, where supply is less of an is-
sue, but prices tend to be higher to start with and
homes may be being built in places that are less
optimal, such as away from transportation op-
tions or a long distance to a center-city job. Sales
of new homes eased a little in December, falling
by 0.4% to 694,000 (annualized) units sold. Un-
like existing homes, there is a 5.7 month supply
of newly-constructed units available (a five-
month high, and close to optimal), and median
prices of new homes sold have waxed and
waned from month to month but are just 0.5%
higher this December than they were last De-
cember. As such, the relative improvement in
affordability produced by lower mortgage rates is
largely preserved and may make the stretch to a
new home possible for somewhat more potential
homebuyers. As with refinances, applications for
(Continued from page 2) purchase-money mortgages rose last week,
gaining 5.3%.
A large selloff in major stock indices here on
Friday will no doubt see overseas market start
the next trading week on a sour note, and the
downward pressure on rates will continue. De-
spite a largely positive economic climate, the
effects of the spreading pandemic has already
blown out the bottom of out most recent Two-
Month Forecast, and that seems like a trend that
will continue next week. We think by the time
Freddie Mac reports next Thursday morning that
another handful of basis points will be shaved off
the average offered rate for a conforming 30-year
fixed-rate mortgage, putting us closer to historic
lows again. A couple of basis point fall would put
us on full par with last September; a 4 to 9 basis
point decline drops us back October 2016 lev-
els... 11 sees us at July 16... but a dozen or
more and we're back at 7-year lows.
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San Francisco Homes: Year-Over-Year Median Sales Price Change
© 2020 rereport.com