Apologies for being negligent about updating the blog. It certainly doesn't mean there haven't been interesting things happening in the San Francisco real estate market.
We continue to publish our monthly reports of sales and inventory. There are a couple of things worth highlighting in the latest version of the reports.
The New Listing Market Watch report is the closest thing we have to a leading indicator. It measures the number of new listings of single family homes and condos during the previous two weeks and what percentage of them go into contract within that same period. As you can see on the graph, the market continues strong with 15% of single family home listings going into contract within two weeks of listing and more than 28% of condos in contract within two weeks. Click here for the full report.
We have also published the Quarterly Report and, of interest there, is the comparison between the just completed 2nd quarter of this year compared to the same quarter a year ago. In every category we survey (for example, 1 bedroom / 1 bath condos) the number of units sold is down compared to the same quarter last year and the average sales price is up. Here's an extract to make the point:
For the full report, click here.