Friday, October 12, 2012

September Sales Results

1 bedroom, 1 bath condos, San Francisco
 We've just posted September sales reports for San Francisco and Marin counties.  These are the reports we do each month.  We focus on specific configurations of homes and condos that are representative of the market as a whole.  Our survey covers roughly 60% of all residential properties in the two counties.

Generally, average sales prices continued their upward trend while the number of properties sold in September is lower compared to the last three months.

You can get the full reports on our web site: and click on "Statistics" where you'll find other reports as well.

Foreclosures Sharply Down

Notices of Default, the first step in the foreclosure process, are down sharply the last two months:

For San Francisco county the trend is the same:

Similar declines in Notice of Default filings can be seen in all of the immediately surrounding counties (Marin, Contra Costa, Alameda and San Mateo) at the Foreclosure Radar site.

Thursday, October 11, 2012

Will this have any bearing on the election?

The California Association of Realtors put out the following yesterday.  (The link at the bottom is to the original Trulia press release)
(Click here to see the map from the Washington Post)
RightArrow.gifAsking prices up year over year in six out of seven swing states
Asking prices on for-sale homes increased 2.5 percent in September, according to the latest findings in the Trulia Price Monitor. Excluding foreclosures, year-over-year asking prices rose 3.5 percent. Meanwhile, asking prices rose 1.6 percent nationally quarter-over-quarter, seasonally adjusted, and 0.5 percent month over month, seasonally adjusted.

Nationally, rent gains continued to outpace home price increases in September, rising 4.8 percent year-over-year. Among the largest 25 rental markets, year-over-year rents rose the most in Houston and Miami, where they climbed more than 10 percent. Strong job growth has pushed up rental demand in Houston. Rent increases have cooled most in San Francisco, from 14.5 percent in June down to 7.2 percent in September.