San Francisco Real Estate Market Trends for May/June 2013

1. local market trends
The Real Estate Report
SAN FRANCISCO
The sales price to list price ratio stayed over 100%
for the fourteenth month in a row. At 105.2%, the
ratio hasn't been higher since October 2005.
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.
Prices Hit All-Time Highs
Well, that didn't take long. The median price for
single-family, re-sale homes in San Francisco hit
$1,000,000 for the first time ever. The median price
for condos/lofts reached $855,000, also an all-time
high.
Using a 3-month moving average, the median price
for condos/lofts is now up 4% over the last peak in
the market: July 2008. For single-family homes, the
3-month moving average is down 3% from the
peak: June 2007.
With the continued expansion of Silicon Valley into
the Market Street, we can expect demand to
continue to be strong.
The combination of high demand and low inventory
will push prices even higher. As of the 8th of the
month, there were only 506 homes, condos and
lofts for sale in San Francisco. At current rates of
sale, that's three weeks supply. In a normal market
we would see six month's supply!
We are seeing multiple offers on most homes being
sold.
Since January 2012, the 3-month moving average
median price for homes has increased 41%.
APRIL MARKET STATISTICS
Sales of single-family, re-sale homes more than
doubled from March: up 113.3%. Year-over-year,
sales were up 89.1%.
The sales price to list price ratio was 108.2% last
month. That's the highest it has been since
August 2005.
SALES MOMENTUM…
for single-family, re-sale homes in San Francisco
jumped 5.8 points to +7.7. Sales momentum for
condos/lofts dropped 1.9 points to +15.2.
PRICING MOMENTUM…
gained 1.5 points to +14.9. Pricing momentum for
condos/lofts rose 0.9 of a point to +16.1.
WE CALCULATE…
momentum by using a 12-month moving average
to eliminate seasonality. By comparing this year’s
12-month moving average to last year’s, we get a
percentage showing market momentum.
CONDO/LOFT STATISTICS…
Sales were up in April by 5.2% from March. Year-
over-year, sales fell 3.4%.
Hill & Company
1880 Lombard Street
San Francisco 94123
Fax: (415) 202-1686
Cell: (415) 819-2663
AnnieWilliamsSF@gmail.com
http://www.anniewilliamshomes.com
DRE #01393923
Annie Williams
Annie Williams | AnnieWilliamsSF@gmail.com | Fax: (415) 202-1686
MAY/JUNE 2013
Inside This Issue
> LOCAL MARKET TRENDS.....................1
> MORTGAGE RATE OUTLOOK ...............2
> HOME STATISTICS ..............................2
> FORECLOSURE STATS ........................3
> CONDO STATISTICS ............................3
> MOMENTUM CHARTS ..........................4
Apr 13 Mar 13 Apr 12
Home Sales: 418 196 221
Median Price: 1,000,000$ 920,500$ 760,000$
Average Price: 1,365,340$ 1,385,362$ 1,058,803$
Sale/List Price Ratio: 108.2% 105.8% 102.7%
Days on Market: 32 48 54
Apr 13 Mar 13 Apr 12
Condo Sales: 285 271 295
Median Price: 855,000$ 829,000$ 705,000$
Average Price: 992,316$ 958,235$ 760,266$
Sale/List Price Ratio: 105.2% 104.2% 100.3%
Days on Market: 38 41 70
(Lofts/Tow nhomes/TIC)
Trends at a Glance
(Single-family Homes)
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 41% -3% 45% Jun-07 Feb-12
12-month 18% -9% 18% Apr-08 Mar-12
Homes: attached
3-month 32% 4% 35% Jul-08 Jan-12
12-month 21% 1% 21% Aug-08 Jan-12
San Francisco Price Differences
from January 2012 & Peak & Trough
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San Francisco Homes: Year-Over-Year Median Sales Price Change
© 2013 rereport.com

2. Page 2
The Real Estate Report
The chart above shows the Na-
tional monthly average for 30-
year fixed rate mortgages as
compiled by HSH.com. The av-
erage includes mortgages of all
sizes, including conforming,
"expanded conforming," and
jumbo.
MORTGAGE RATE OUTLOOK
May 3, 2013 -- A cascade of fresh economic data came
out this week, variously reflecting economic conditions
in both March and April. A "big picture" look at the
data might lead one to an "economy is still troubled"
conclusion despite the current 2.5 percent run rate for
Gross Domestic Product.
Mortgage and other interest rates had been on a flat to
easing trend for much of the week as most of the data
did little to dispel the notion that we remain in a rough
patch, one even the Federal Reserve implicitly ac-
knowledged at the close of its meeting on Wednesday.
There was plenty of downbeat news available this
week to create additional cause for concern, but one
or two shining reports took the gloom out of the mar-
ket, at least for now. Mortgage rates are likely to rise
somewhat next week as a result.
HSH.com's broad-market mortgage tracker -- our
weekly Fixed-Rate Mortgage Indicator (FRMI) -- found
that the overall average rate for 30-year fixed-rate
mortgages eased by four basis points (0.04%) to
3.61%, another new low for 2013 and close to "all-
time" record lows set last year. The FRMI's 15-year
companion dropped by three basis points (0.03%) to
2.86% for the week, another actual all-time low. FHA-
backed 30-year FRMs followed along with a decline of
two basis points (0.02%), falling to an average rate of
3.26% (record low by two basis points) and was ac-
companied by a three-hundredth of a percentage point
slip in the overall average rate for 5/1 Hybrid ARMs,
which trekked down to an average 2.57% - another
new low water-mark for the most popular ARM.
As far as interest rates go, it took an accumulation of
fair economic news over a period of months and some
considerable market optimism about the economy's
future to bump them up during the late winter and
early spring. That trend did an about face over the last
six weeks or so as the economic news turned darker.
Is the employment report the start of a new spate of
solid news, or simply a bright spot in an otherwise dim
sky?
For the moment, the brighter employment picture on
Thursday and Friday was sufficient to cause a reversal
in the decline in interest rates. The influential 10-year
Treasury bounced upward by more than a tenth-
percentage point on Friday, so it's to be expected that
at least some of that will show in mortgage rates as
we round into next week. Many popular mortgages
have been easing to record (or near record lows) but
will move away from them next week, when a 5 or 6
basis point rise in HSH's FRMI seems most likely.3.0% 4.0% 5.0% 6.0% 7.0% 8.0%
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30-Year Fixed Mortgage Rates
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San Francisco Homes: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2013 rereport.com
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco 1,000,000$ 1,365,340$ 418 32 108.2% 31.6% 29.0% 89.1% 8.6% -1.4% 113.3%
D1: Northwest 1,606,000$ 2,090,524$ 42 32 105.3% 51.5% 77.8% 147.1% 27.5% 44.2% 147.1%
D2: Central West 855,000$ 937,648$ 66 22 115.1% 20.6% 25.9% 94.1% 4.9% -0.5% 100.0%
D3: Southwest 668,000$ 722,471$ 34 32 111.9% 40.6% 30.5% 100.0% 29.0% 38.2% 1033.3%
D4: Twin Peaks 1,117,969$ 1,180,406$ 44 42 110.2% 33.4% 17.0% 63.0% 4.7% -1.5% 76.0%
D5: Central 1,630,000$ 1,839,766$ 64 31 110.9% 20.3% 15.7% 56.1% 1.3% 0.7% 68.4%
D6: Central North 1,100,000$ 1,413,405$ 10 48 105.8% -54.1% -56.0% 100.0% -50.0% -32.7% 233.3%
D7: North 2,950,000$ 3,328,636$ 22 24 103.9% -13.2% -0.7% 144.4% -30.6% -28.6% 69.2%
D8: Northeast 7,562,500$ 7,562,500$ 4 46 92.5% 351.5% 351.5% 300.0% 160.8% 160.8% 100.0%
D9: Central East 1,017,500$ 1,157,417$ 60 27 111.2% 33.6% 42.0% 233.3% 0.9% 13.2% 252.9%
D10: Southeast 555,500$ 551,660$ 72 40 110.6% 20.2% 22.4% 60.0% 1.6% 1.0% 63.6%
April 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 of properties actively
for sale as of the last day of the
month.
Notices of default, the first step in the foreclosure proc-
ess, in San Francisco continued dropping in March:
down 37.8% from February. Year-over-year, notices
were off 81.9%.
Notices of sale, which set the date and time of an auc-
tion, and serve as the homeowner's final notice before
sale, fell 63.2% from February, and were down 72%
year-over-year.
After the filing of a Notice of Trustee Sale, there are
only three possible outcomes. First, the sale can be
cancelled for reasons that include a successful loan
modification or short sale, a filing error, or a legal re-
quirement to re-file the notice after extended postpone-
ments.
FORECLOSURE STATISTICS
Alternatively, if the property is taken to sale, the bank
will place the opening bid. If a third party, typically an
investor, bids more than the bank's opening bid, the
property will be sold to the third party; if not, it will go
back to the bank.
In March, cancellations were up 9.6% from February,
but down 2.4% year-over-year.
Properties going back to the bank were up 33.3% in
March from February. Year-over-year, the number of
properties going back to the bank was down 79.5%.
The total number of properties that have had a notice of
default filed fell by 64.5% compared to March 2012.
(Continued on page 4)
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San Francisco Condos: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2013 rereport.com
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San Francisco Condos/Lofts: Year-Over-Year Median Sales Price Change
© 2013 rereport.com
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco 855,000$ 992,316$ 285 38 105.2% 21.3% 30.5% -3.4% 3.1% 3.6% 5.2%
D1: Northwest 835,000$ 805,591$ 11 32 106.1% 36.9% 17.8% -35.3% -10.6% -18.6% -21.4%
D2: Central West 397,500$ 397,500$ 2 9 97.2% -39.1% -42.2% -80.0% -33.8% -48.9% -33.3%
D3: Southwest 370,000$ 380,000$ 3 101 102.3% -10.8% 0.8% -40.0% -4.0% 0.4% -40.0%
D4: Twin Peaks 329,000$ 480,800$ 5 123 107.2% -19.8% 23.5% -16.7% -37.3% -16.1% -16.7%
D5: Central 925,000$ 989,157$ 45 30 108.2% 9.5% 9.9% 73.1% 1.6% 4.1% 18.4%
D6: Central North 843,000$ 888,495$ 32 41 107.2% 24.9% 24.2% 10.3% 16.0% 18.5% -13.5%
D7: North 1,150,000$ 1,175,111$ 41 24 106.8% 19.2% 17.7% 24.2% -2.1% -10.3% -14.6%
D8: Northeast 926,000$ 1,289,370$ 49 39 104.3% 27.7% 59.4% -10.9% -10.1% 8.9% 36.1%
D9: Central East 765,500$ 896,974$ 94 34 102.9% 9.4% 20.0% 13.3% -2.5% 7.7% 16.0%
D10: Southeast 310,000$ 330,478$ 3 242 96.1% 4.7% 22.7% -66.7% -2.5% 3.9% 200.0%
April Sales Statistics
(Condos/TICs/Co-ops/Lofts)
Prices Yearly Change Monthly Change

4. The Real Estate Market Trends Report is published and copyrighted by http://rereport.com.
THE REAL ESTATE REPORT
San Francisco
Annie Williams
Hill & Company
1880 Lombard Street
San Francisco 94123
Go online to see the full report
with the district by district breakdown:
HTTP://WWW.ANNIEWILLIAMSHOMES.COM
The total number of properties sched-
uled for sale declined by 60.8% year-
over-year, and were down 21.7% from
February.
The total number of properties owned
by the banks was down 41.2% year-
over-year. The banks now own approxi-
mately 374 properties in the city.
For further details and a city-by-city
breakdown of foreclosure statistics, go
to http://foreclosureradar.com.
(Continued from page 3)
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San Francisco Homes: Sales Momentum
Sales Pricing © 2013 rereport.com
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San Francisco Condos/Lofts: Sales Momentum
Sales Pricing © 2013 rereport.com