San Francisco Market Focus November 2013

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San Francisco Market Focus November 2013

  1. 1. Monthly Indicators November 2013 Monthly Snapshot + 20.4% November was largely another encouraging month for residential real estate. Our attention has shifted from multiyear high prices and sales volumes to seller activity, inventory levels and building permits. And let's not forget the calendar effect. As families gather together, fewer house hunters are scheduling showings and writing offers. Watch for month-to-month activity to moderate while year-over-year comparisons remain strong. New Listings were down 13 3 percent for single family homes and 13 7 percent 13.3 13.7 for Condo/TIC/Coop properties. Pending Sales decreased 15.5 percent for single family homes and 0.7 percent for Condo/TIC/Coop properties. The Median Sales Price was up 20.4 percent to $975,000 for single family homes and 6.5 percent to $825,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 20.0 percent for single family units and 30.4 percent for Condo/TIC/Coop units. Recent economic and jobs data have surprised to the upside by exceeding expectations. This likely keeps the new Federal Reserve leadership on track for March 2014 tapering. Non-farm payrolls grew by 204,000 jobs in October, outperforming Wall Street expectations. In another bullish sign, August payrolls were revised upward to a 238,000 job gain – positive momentum that should support housing recovery. Just in time for the holidays. + 6.5% + 13.1% One-Year Change in Median Sales Price Single Family One-Year Change in Median Sales Price Condo/TIC/Coop One-Year Change in Median Sales Price All Property Types Residential real estate activity in San Francisco County (Districts 1-10), comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures. Single Family Activity Overview Condo/TIC/Coop Activity Overview New Listings Pending Sales Sold Listings Median Sales Price Average Sales Price Days on Market Until Sale Inventory of Active Listings % of Properties Sold Over List Price % of List Price Received Housing Affordability Ratio Months Supply of Inventory All Properties Activity Overview Activity by District 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing.
  2. 2. Single Family Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 11-2012 11-2011 11-2012 2,853 - 0.6% 213 - 15.5% 2,481 2,454 - 1.1% 231 - 15.1% 2,424 2,419 - 0.2% $975,000 + 20.4% $755,000 $915,000 + 21.2% YTD 2012 YTD 2013 Percent Change 11-2013 11-2010 2,870 $810,000 11-2012 - 13.3% 272 11-2011 157 252 11-2010 Percent Change 181 New Listings 11-2013 11-2013 Pending Sales Sold Listings 11-2010 11-2011 11-2012 11-2013 Median Sales Price 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 Average Sales Price $1,114,319 $1,314,983 + 18.0% $1,080,061 $1,289,732 + 19.4% Days on Market 42 36 - 32.1% 342 - 22.4% -- -- -- 77.9% + 17.1% 59.1% 77.1% + 30.5% 106.4% 108.8% + 2.3% 104.4% 110.1% + 5.5% 67 55 - 17.9% 71 58 - 18.3% 2.0 11-2012 53 66.5% 11-2011 - 19.0% 441 11-2010 34 1.6 - 20.0% -- -- -- 11-2013 Active Listings 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 % of Properties Sold Over List Price % of List Price Received 11-2010 11-2011 11-2012 11-2013 Affordability Ratio 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 Months Supply Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 2
  3. 3. Condo/TIC/Coop Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 11-2012 269 - 0.7% 2,951 3,150 + 6.7% 276 + 2.2% 2,914 3,072 + 5.4% $825,500 + 6.5% $710,000 $825,000 + 16.2% $968,281 - 0.2% $815,886 $956,733 + 17.3% 51 41 - 19.6% 62 41 - 33.9% 602 445 - 26.1% -- -- -- 54.4% 62.0% + 14.0% 45.5% 65.4% + 43.7% 102.5% 105.1% + 2.5% 101.5% 105.5% + 3.9% 70 64 - 8.6% 76 64 - 15.8% 2.3 11-2012 + 7.7% $970,414 11-2011 3,742 1.6 - 30.4% -- -- -- YTD 2012 YTD 2013 Percent Change 11-2013 11-2010 3,476 $775,000 11-2012 - 13.7% 270 11-2011 182 271 11-2010 Percent Change 211 New Listings 11-2013 11-2013 Pending Sales Sold Listings 11-2010 11-2011 11-2012 11-2013 Median Sales Price 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 Average Sales Price Days on Market 11-2010 11-2011 11-2012 11-2013 Active Listings 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 % of Properties Sold Over List Price % of List Price Received 11-2010 11-2011 11-2012 11-2013 Affordability Ratio 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 Months Supply Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 3
  4. 4. New Listings A count of the properties that have been newly listed on the market in a given month. Year to Date November 2013 2011 2012 2013 2011 2012 2013 - 24.9% 24 9% + 22.3% 22 3% - 13.3% 13 3% 31.7% - 31 7% + 36.1% 36 1% - 13.7% 13 7% 8 9% - 8.9% - 11.5% 11 5% - 0.6% 0 6% 16 6% - 16.6% - 6.3% 6 3% + 7.7% 7 7% Single Family Condo/TIC/Coop Single Family 316 +2.9% 254 -12.4% 369 +12.5% 302 +15.3% 396 +15.1% 339 +30.9% 383 +2.4% 292 +12.7% 357 +6.9% 258 +1.2% 330 +22.7% 270 +6.3% 340 +8.6% 295 -6.9% 444 +14.7% 271 -5.6% 317 +3.9% Nov-2013 2012 -18.2% Oct-2013 2011 211 Sep-2013 2013 +1.3% Aug-2013 2012 +2.7% 308 Jul-2013 2011 114 -17.7% Jun-2013 155 -12.8% 204 May-2013 157 148 2,853 102 Apr-2013 2,870 182 181 Year-Over-Year Change Feb-2013 3,242 Condo/TIC/ Coop Mar-2013 211 Year-Over-Year Change Jan-2013 3,476 Single Family Dec-2012 3,742 3,708 New Listings 157 -13.3% 182 -13.7% 12 Month 12-Month Avg 246 -1.1% 1.1% 321 +7.5% Condo/TIC/Coop Historical New Listings by Month Single Family Condo/TIC/Coop 700 600 500 400 300 200 100 0 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 4
  5. 5. Pending Sales A count of the properties on which offers have been accepted in a given month. Year to Date November Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Dec-2012 170 -1.7% 203 +23.0% Jan-2013 158 -7.1% 174 +6.7% Feb-2013 149 -21.6% 217 -0.9% Mar-2013 207 -10.0% 302 +8.6% Apr-2013 242 +3.0% 309 -3.4% May-2013 269 +10.2% 360 +13.9% Jun-2013 276 +16.5% 290 -7.6% Jul-2013 250 +10.6% 332 +16.1% Aug-2013 230 +1.8% 302 +4.5% Sep-2013 212 +15.2% 254 +16.5% Oct-2013 248 -13.6% 341 +23.1% Nov-2013 213 -15.5% 269 -0.7% 12 Month 12-Month Avg 219 -1.1% 1.1% 279 +7.6% Pending Sales 271 3,150 269 2,951 252 218 213 223 2,481 2,311 2012 2011 + 10.1% 10 1% 2013 2011 2012 2013 2011 + 15.6% 15 6% - 15.5% 15 5% 36.8% + 36 8% + 21.5% 21 5% - 0.7% 0 7% + 7.6% 7 6% Single Family Condo/TIC/Coop 2,454 2,411 2012 2013 2011 2012 2013 7.4% + 7 4% - 1 1% 1.1% + 11.6% 11 6% + 22.4% 22 4% + 6.7% 6 7% Single Family Condo/TIC/Coop Historical Pending Sales by Month Single Family Condo/TIC/Coop 400 300 200 100 0 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 5
  6. 6. Sold Listings A count of the actual sales that closed in a given month. Year to Date November Sold Listings + 26.6% 26 6% 2013 2011 2012 2013 2011 + 16.7% 16 7% - 15.1% 15 1% 30.0% + 30 0% + 29.8% 29 8% + 2.2% 2 2% + 6.8% 6 8% Single Family Condo/TIC/Coop 2012 2013 2011 2012 2013 + 8.0% 8 0% - 0.2% 0 2% + 11 0% 11.0% + 23.0% 23 0% + 5.4% 5 4% Single Family -29.1% 195 +7.7% 207 -7.2% 282 +6.0% 222 +0.5% 303 +2.7% 250 +5.9% 380 +27.1% 271 +1.1% 277 -18.5% 276 +27.2% 341 +23.6% 236 -2.1% 302 -6.5% 185 +3.4% 229 +0.4% 251 -1.6% 332 +20.7% Nov-2013 2012 2011 129 Oct-2013 2,244 2,369 -3.7% Sep-2013 2,419 +26.1% 155 Aug-2013 2,424 208 251 +23.8% Jul-2013 231 -10.0% 161 Jun-2013 233 Dec-2012 Jan-2013 3,072 208 Mar-2013 2,914 Year-Over-Year Change Feb-2013 276 Condo/TIC/ Coop May-2013 270 Year-Over-Year Change Apr-2013 272 Single Family 231 -15.1% 276 +2.2% 12 Month 12-Month Avg 219 -1.1% 1.1% 277 +6.7% Condo/TIC/Coop Historical Sold Listings by Month Single Family Condo/TIC/Coop 400 300 200 100 0 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 6
  7. 7. Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. Year to Date November Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Dec-2012 $836,250 +37.1% $699,000 +11.8% Jan-2013 $745,000 +17.3% $765,000 +26.4% Feb-2013 $800,500 +26.1% $750,000 +15.6% Mar-2013 $920,000 +29.0% $822,500 +31.1% Apr-2013 $1,000,000 +31.6% $845,250 +19.9% May-2013 $1,022,772 +31.5% $830,000 +18.6% Jun-2013 $940,000 +20.5% $780,000 +9.5% Jul-2013 $875,000 +13.9% $850,000 +23.2% Aug-2013 $941,500 +23.1% $810,000 +11.7% Sep-2013 $930,000 +28.3% $826,000 +6.4% Oct-2013 $911,945 +9.9% $864,000 +13.7% Nov-2013 $975,000 +20.4% $825,500 +6.5% 12 Month Avg 12-Month Avg* $910,000 +21.4% $816,195 +16.6% Median Sales Price $915,000 $825,000 $975,000 $755,000 $825,500 $810,000 $710,000 $698,000 $775,000 $629,000 $675,000 $612,500 2012 2013 2011 2012 2013 2011 + 20.0% 20 0% + 20.4% 20 4% 9.9% - 9 9% + 26.5% 26 5% + 6.5% 6 5% - 6 9% 6.9% 2011 - 10.6% 10 6% Single Family Condo/TIC/Coop 2012 2013 2011 2012 2013 + 8.2% 8 2% + 21.2% 21 2% - 3 2% 3.2% + 12.9% 12 9% + 16.2% 16 2% Single Family Condo/TIC/Coop * Median Sales Price for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical Median Sales Price by Month Single Family Condo/TIC/Coop $1,100,000 $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 7
  8. 8. Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. Year to Date November Average Sales Price $1,289,732 $1,314,983 Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change +3.6% $836,342 +17.6% $1,166,453 +7.4% $874,966 +18.3% Mar-2013 $1,365,029 +44.4% $953,615 +29.0% Apr-2013 $1,362,627 +28.7% $975,623 +28.3% $1,498,161 +32.9% $980,113 +21.3% Jun-2013 $1,198,063 +3.3% $930,338 +12.9% Jul-2013 $1,285,314 +8.8% $1,018,542 +30.7% Aug-2013 $1,307,808 +32.1% $929,239 +15.3% Sep-2013 $1,245,303 +33.0% $941,430 +4.8% Oct-2013 $1,358,388 +4.8% $1,004,118 +13.0% Nov-2013 $968,281 $961,356 $956,733 $815,886 $784,291 + 8.5% 8 5% $855,315 +15.4% $1,314,983 +18.0% $968,281 -0.2% 12 Month Avg 12-Month Avg* $1,297,595 +22.7% $949,073 +16.2% $1,080,061 $970,414 $735,070 2012 2013 2011 2012 2013 2011 + 1.6% 1 6% + 18.0% 18 0% + 0.2% 0 2% + 23.7% 23 7% - 0.2% 0 2% - 3 3% 3.3% 2011 +68.9% $910,358 Feb-2013 $1,114,319 $1,388,972 Jan-2013 May-2013 $1,097,006 Dec-2012 Single Family Condo/TIC/Coop 2012 2013 2011 2012 2013 + 12.3% 12 3% + 19.4% 19 4% 0 5% - 0.5% + 11.0% 11 0% 17.3% + 17 3% Single Family Condo/TIC/Coop * Average Sales Price for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical Average Sales Price by Month Single Family Condo/TIC/Coop $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 8
  9. 9. Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month. Year to Date November Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Dec-2012 48 -23.8% 61 -28.2% Jan-2013 49 -39.5% 64 -34.0% Feb-2013 41 -34.9% 49 -47.9% Mar-2013 39 -39.1% 42 -37.3% Apr-2013 35 -35.2% 41 -41.4% May-2013 31 -34.0% 36 -36.8% Jun-2013 35 -40.7% 38 -33.3% Jul-2013 33 -29.8% 39 -33.9% Aug-2013 39 -20.4% 38 -29.6% Sep-2013 30 -34.8% 37 -28.8% Oct-2013 34 -24.4% 38 -30.9% Nov-2013 34 -19.0% 41 -19.6% 12 Month Avg 12-Month Avg* 37 -31.9% 31.9% 42 -33.9% 33.9% Days on Market 82 80 63 62 57 53 51 42 41 41 36 34 2011 2012 2013 2011 2012 2013 2011 2012 2013 2011 2012 2013 - 3.4% 3 4% - 26.3% 26 3% - 19.0% 19 0% + 3.8% 3 8% - 37.8% 37 8% - 19.6% 19 6% + 10.5% 10 5% - 15.9% 15 9% - 32.1% 32 1% 3 9% + 3.9% - 22.5% 22 5% - 33.9% 33 9% Single Family Condo/TIC/Coop Single Family Condo/TIC/Coop * Days on Market for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical Days on Market Until Sale by Month Single Family Condo/TIC/Coop 120 100 80 60 40 20 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 9
  10. 10. Inventory of Active Listings The number of properties available for sale in active status at the end of a given month. November Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Dec-2012 315 -36.5% 410 -35.3% Jan-2013 334 -37.6% 498 -31.0% Feb-2013 377 -33.6% 573 -26.3% Mar-2013 402 -31.6% 611 -19.8% Apr-2013 440 -24.4% 656 -11.8% May-2013 478 -13.4% 634 -16.1% Jun-2013 461 -11.9% 647 -10.4% Jul-2013 445 -12.4% 598 -10.9% Aug-2013 451 -10.3% 570 -9.7% Sep-2013 482 -19.4% 688 -8.5% Oct-2013 456 -16.3% 595 -16.9% Nov-2013 342 -22.4% 445 -26.1% 12 Month Avg 12-Month Avg* 415 -22.6% 22.6% 577 -18.4% 18.4% Active Listings 859 670 602 445 441 342 2011 2012 2013 2011 2012 2013 - 23.7% 23 7% 34 2% - 34.2% Single Family 22 4% - 22.4% 30 0% - 30.0% - 29.9% 29 9% - 26.1% 26 1% Condo/TIC/Coop * Active Listings for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical Inventory of Active Listings by Month Single Family Condo/TIC/Coop 1,600 1,400 1,200 1,000 800 600 400 200 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 10
  11. 11. % of Properties Sold Over List Price Percentage found when dividing the number of properties sold by properties sold over its original list price, not accounting for seller concessions. November Year to Date % of Properties Sold Over List Price Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Dec-2012 2012 2011 + 24.6% 24 6% 2013 2011 2012 2013 2011 + 38.3% 38 3% + 17.1% 17 1% + 33.3% 33 3% + 91.5% 91 5% + 14.0% 14 0% - 12 5% 12.5% Single Family Condo/TIC/Coop 2012 2013 2011 2012 2013 + 48.5% 48 5% + 30.5% 30 5% + 2.2% 2 2% + 94.4% 94 4% + 43.7% 43 7% Single Family Condo/TIC/Coop +71.6% 74.9% +61.4% 63.1% +52.4% 79.7% +29.6% 67.3% +77.1% 78.4% +34.0% 67.6% +41.4% 80.4% +24.5% 71.8% +49.0% 78.3% +24.1% 73.3% +71.3% 75.4% +14.2% 66.2% +45.5% 78.9% +14.8% 68.6% +29.2% 80.8% +23.4% 67.8% +11.7% Nov-2013 23.4% 54.9% Oct-2013 28.4% +78.6% Sep-2013 39.8% 72.7% Aug-2013 45.5% Feb-2013 Jul-2013 48.1% +62.8% Jun-2013 54.4% +95.8% 39.4% May-2013 59.1% 46.2% +103.2% Apr-2013 65.4% 62.0% +65.3% 64.0% Mar-2013 66.5% 61.5% Jan-2013 77.1% 77.9% 77.9% +17.1% 62.0% +14.0% 12 Month 12-Month Avg 75.9% +32.7% 63.9% +45.0% * % of Properties Sold Over List Price for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical % of Properties Sold Over List Price by Month Single Family Condo/TIC/Coop 100.0% 80.0% 60.0% 40.0% 20.0% 0.0% 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 11
  12. 12. % of List Price Received Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. November Year to Date + 1.5% 1 5% 2013 2011 2012 2013 2011 + 5.3% 5 3% + 2.3% 2 3% + 0.7% 0 7% + 4.0% 4 0% + 2.5% 2 5% - 0.7% 0 7% Single Family 2013 2011 2012 2013 + 4 3% 4.3% + 5 5% 5.5% 0 1% - 0.1% 3 3% + 3.3% +2.5% 108.4% +8.0% 103.8% +4.3% 109.9% +8.0% 104.9% +4.2% 111.7% +7.8% 105.7% +4.9% 111.4% +6.2% 105.9% +3.9% 112.4% +7.3% 107.0% +5.5% 109.7% +4.0% 106.8% +5.1% 110.4% +4.3% 105.5% +3.4% 109.9% +2.8% 105.8% +3.5% 110.4% +4.9% 105.6% +1.9% 108.8% +2.3% 105.1% +2.5% 12 Month Avg 12-Month Avg* 109.7% +5.5% 105.2% +3.8% + 3.9% 3 9% Single Family Condo/TIC/Coop +3.3% 101.2% Nov-2013 2012 2012 101.6% +6.7% Oct-2013 2011 +4.0% 106.1% Sep-2013 105.5% 104.7% Aug-2013 101.5% Jan-2013 Jul-2013 98.3% Dec-2012 Jun-2013 100.1% Year-Over-Year Change May-2013 110.1% 104.4% Condo/TIC/ Coop Apr-2013 98.6% 102.5% 105.1% Year-Over-Year Change Mar-2013 106.4% 108.8% Single Family Feb-2013 101.0% % of List Price Received Condo/TIC/Coop * % of List Price Received for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical % of List Price Received by Month Single Family Condo/TIC/Coop 115.0% 110.0% 105.0% 100.0% 95.0% 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 12
  13. 13. Housing Affordability Ratio This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. November Year to Date Single Family Year-Over-Year Change Dec-2012 66 -19.5% 78 -2.5% Jan-2013 74 -6.3% 72 -13.3% Feb-2013 67 -16.3% 71 -9.0% Mar-2013 59 -16.9% 65 -18.8% Apr-2013 55 -19.1% 65 -11.0% May-2013 52 -22.4% 63 -14.9% Jun-2013 53 -20.9% 63 -13.7% Jul-2013 57 -17.4% 58 -24.7% Aug-2013 52 -24.6% 60 -17.8% Sep-2013 54 -27.0% 60 -14.3% Oct-2013 55 -15.4% 58 -18.3% Nov-2013 55 -17.9% 64 -8.6% 12 Month Avg 12-Month Avg* 58 -23.0% 23.0% 71 -14.6% 14.6% Affordability Ratio 81 79 74 72 70 67 71 64 64 58 55 2012 2011 + 15.6% 15 6% 76 2013 2011 2012 2013 2011 - 9 5% 9.5% - 17.9% 17 9% 15 7% + 15.7% - 13.6% 13 6% - 8.6% 8 6% + 12.5% 12 5% Single Family Condo/TIC/Coop 2012 2013 2011 2012 2013 1 4% - 1.4% 18 3% - 18.3% 8 2% + 8.2% - 3.8% 3 8% - 15.8% 15 8% Single Family Condo/TIC/Coop Condo/TIC/ Coop Year-Over-Year Change * Affordability Ratio for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical Housing Affordability Ratio by Month Single Family Condo/TIC/Coop 90 80 70 60 50 40 30 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 13
  14. 14. Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months. November Single Family Year-Over-Year Change Condo/TIC/ Coop Year-Over-Year Change Dec-2012 1.4 -41.7% 1.6 -46.7% Jan-2013 1.5 -42.3% 1.9 -44.1% Feb-2013 1.7 -37.0% 2.2 -38.9% Mar-2013 1.9 -32.1% 2.3 -34.3% Apr-2013 2.0 -25.9% 2.5 -24.2% May-2013 2.2 -15.4% 2.4 -27.3% Jun-2013 2.1 -16.0% 2.4 -22.6% Jul-2013 2.0 -16.7% 2.2 -21.4% Aug-2013 2.0 -13.0% 2.1 -19.2% Sep-2013 2.1 -25.0% 2.5 -16.7% Oct-2013 2.1 -16.0% 2.1 -25.0% Nov-2013 1.6 -20.0% 1.6 -30.4% 12 Month Avg 12-Month Avg* 1.9 -25.1% 25.1% 2.1 -29.5% 29.5% Months Supply 4.0 3.2 2.3 2.0 1.6 1.6 2011 2012 2013 2011 2012 2013 - 28.9% 28 9% - 37.5% 37 5% Single Family 20 0% - 20.0% - 36.5% 36 5% - 42.5% 42 5% Condo/TIC/Coop - 30.4% 30 4% * Months Supply for all properties from December 2012 through November 2013. This is not the average of the individual figures above. Historical Months Supply of Inventory by Month Single Family Condo/TIC/Coop 10.0 8.0 6.0 4.0 2.0 0.0 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 14
  15. 15. All Properties Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 11-2012 11-2011 11-2012 6,595 + 3.9% 482 - 7.8% 5,432 5,604 + 3.2% 507 - 6.5% 5,338 5,491 + 2.9% $905,000 + 13.1% $731,000 $853,000 + 16.7% + 8.0% $935,821 $1,103,364 + 17.9% YTD 2012 YTD 2013 Percent Change 11-2013 11-2010 6,346 $800,000 11-2012 - 13.5% 542 11-2011 339 523 11-2010 Percent Change 392 New Listings 11-2013 11-2013 Pending Sales Sold Listings 11-2010 11-2011 11-2012 11-2013 Median Sales Price 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 Average Sales Price $1,042,632 $1,126,246 Days on Market 47 38 - 34.5% 787 - 24.5% -- -- -- 69.2% + 14.4% 51.7% 70.6% + 36.6% 104.4% 106.8% + 2.3% 102.8% 107.5% + 4.6% 53 48 - 9.4% 58 49 - 16.7% 2.2 11-2012 58 60.5% 11-2011 - 19.1% 1,043 11-2010 38 1.6 - 27.3% -- -- -- 11-2013 Active Listings 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 % of Properties Sold Over List Price % of List Price Received 11-2010 11-2011 11-2012 11-2013 Affordability Ratio 11-2010 11-2011 11-2012 11-2013 11-2010 11-2011 11-2012 11-2013 Months Supply Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 15
  16. 16. Activity by District Key metrics by report month for the districts of San Fransisco. SF District 1: Northwest (Sea Cliff, Lake, Jordan Park / Laurel Heights, Outer Richmond, Central Richmond, Inner Richmond, Lone Mountain) SF District 2: Central West (Outer Sunset, Central Sunset, Inner Sunset, Outer Parkside, Parkside, Inner Parkside, Golden Gate Heights) SF District 3: Southwest (Pine Lake Park, Lake Shore, Merced Manor, Stonestown, Lakeside, Merced Heights, Ingleside, Ingleside Heights, Oceanview) SF District 4: Twin Peaks W (Forest Hill (& Ext), W Portal, St Francis Wd, Balboa Terr, Mt Dav Manor, Ingleside Terr, Monterey Hts, Wstwd Pk & H'lnds, Shrwd Fst, Miraloma Pk, Dmnd Hts, Mdtwn Terr) SF District 5: Central (Haight Ashbury, Cole Vly / Prnssus Hts, Clarndn Hts, Corona Hts, Twin Pks, Glen Pk, Noe Vly, Eureka Vly / Dolores Hts, Mission Dolores, Duboce Trngl, Buena Vista / Ashbury Hts) SF District 6: Central North (Lower Pacific Heights, Anza Vista, Western Addition, North Panhandle, Alamo Square, Hayes Valley) SF District 7: North (Marina, Cow Hollow, Presidio Heights, Pacific Heights) SF District 8: Northeast (North Waterfront, North Beach, Russian Hill, Telegraph Hill, Nob Hill, Financial District / Barbary Coast, Downtown, Van Ness / Civic Center, Tenderloin) SF District 9: Central East (Yerba Buena, South Beach, South of Market, Mission Bay, Inner Mission, Potrero Hill, Central Waterfront / Dogpatch, Bernal Heights) SF District 10: Southeast (Outer Mission, Mission Terr, Excelsior, Portola, Bayview, Silver Terr, Hunters Pt, Candlestick Pt, Bayview Hts, Little Hollywood, Visitation Vly, Crocker Amazon) Active Listings 11-2012 Sold Listings 11-2013 +/– 11-2012 Median Sales Price 11-2013 +/– 11-2012 11-2013 Days on Market +/– 11-2012 Months Supply 11-2013 +/– 11-2012 11-2013 +/– Single Family 1 SF District 1 42 28 -33.3% 23 20 -13.0% $1,280,888 $1,372,500 +7.2% 45 33 -27.3% 2.3 1.5 -33.9% 2 SF District 2 58 54 -6.9% 45 48 +6.7% $806,500 $872,500 +8.2% 41 41 +1.5% 1.7 1.4 -18.4% 3 SF District 3 27 33 +22.2% 24 14 -41.7% $685,000 $702,000 +2.5% 39 47 +21.1% 1.6 2.3 +43.9% 4 SF District 4 50 43 -14.0% 49 31 -36.7% $950,000 $1,055,000 +11.1% 39 28 -27.6% 1.7 1.6 -5.2% 5 SF District 5 52 39 -25.0% 81 33 -59.3% $1,485,000 $1,550,000 +4.4% 38 37 -3.2% 1.6 1.2 -24.2% 6 SF District 6 11 11 0.0% 26 6 -76.9% $1,245,000 $2,177,500 +74.9% 35 14 -61.0% 2.6 3.0 +16.9% 7 SF District 7 33 20 -39.4% 48 10 -79.2% $2,981,250 $3,688,000 +23.7% 72 28 -61.8% 3.2 1.7 -47.2% 8 SF District 8 10 5 -50.0% 45 0 -100.0% $1,874,000 $0 -100.0% 43 0 -100.0% 3.7 2.5 -31.8% 9 SF District 9 44 22 -50.0% 115 25 -78.3% $790,500 $1,285,000 +62.6% 31 24 -21.2% 2.4 0.9 -61.1% 114 87 -23.7% 69 44 -36.2% $526,500 $607,650 +15.4% 44 34 -23.7% 2.1 1.9 -11.6% 29 28 -3.4% 17 15 -11.8% $825,000 $780,000 -5.5% 40 41 +1.2% 2.1 2.2 +5.3% +26.9% 10 SF District 10 Condo/TIC/Coop 1 SF District 1 2 SF District 2 6 6 0.0% 5 7 +40.0% $725,000 $589,922 -18.6% 24 50 +103.2% 1.1 1.4 3 SF District 3 6 5 -16.7% 3 2 -33.3% $280,000 $495,000 +76.8% 68 17 -75.9% 1.7 1.8 +3.5% 4 SF District 4 14 5 -64.3% 3 8 +166.7% $487,000 $497,500 +2.2% 47 56 +19.4% 3.1 1.0 -68.4% 5 SF District 5 73 45 -38.4% 40 41 +2.5% $822,000 $975,000 +18.6% 43 37 -13.8% 2.0 1.0 -47.3% 6 SF District 6 55 57 +3.6% 24 25 +4.2% $725,500 $826,000 +13.9% 39 29 -25.1% 2.1 2.0 -5.3% 7 SF District 7 74 37 -50.0% 36 32 -11.1% $995,000 $1,200,000 +20.6% 70 46 -34.8% 2.7 1.1 -57.6% 8 SF District 8 113 100 -11.5% 43 37 -14.0% $745,000 $650,000 -12.8% 55 44 -19.8% 2.3 2.2 -4.9% 9 SF District 9 202 146 -27.7% 95 105 +10.5% $760,000 $830,000 +9.2% 52 41 -22.0% 2.4 1.5 -37.0% 30 16 -46.7% 4 4 0.0% $413,000 $314,701 -23.8% 50 68 +37.2% 4.3 2.4 -43.3% 10 SF District 10 Current as of December 11, 2013. All data from the San Francisco MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 16

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