Residential real estate activity in San Francisco County saw encouraging signs in November 2013, though some metrics moderated from multiyear highs. New listings and pending sales decreased month-over-month for both single family homes and condos/co-ops. However, median sales prices continued rising sharply with a 20.4% increase for single family homes and 6.5% for condos/co-ops compared to November 2012. Strong economic data and job growth are supporting the housing recovery. Watch for further tapering of the Federal Reserve's stimulus program in March 2014.

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. 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. 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. 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. 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. 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. 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. 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. 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. 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. % 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. % 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. 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. 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. 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. 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