The 2015 San Francisco real estate market continued its
steady march upward reaching new historic high selling prices almost every
month. In one sense San Francisco is the
“perfect storm” of residential real estate.
Inventory remains low, demand continues to be very strong, and
government regulation tends to limit the supply of new housing.
Below are some of the highlights we’ve found analyzing our
statistics and reporting during 2015:
1. Single family homes comprise about 44% of our residential market; condominiums (including TICs and co-ops) are 56% of the total.
2. For the second year in a row the total number of sales has decreased by about 7%. From 2008 to 2012 the number of sales had increased between 3 and 16%.
3. The percentage of single family homes and condos that sold below $1,000,000 has reached a new low of 38%. 62% sold for over $1,000,000.
4. Only 110 homes sold below $500,000, less than 10 per month. Most of these were either fixers or part of a “below market rate” program where selling and re-sale prices are mandated/regulated by legislation.
5. 2 bedroom/2 bath condominium units were the most sought after home in San Francisco followed by 1 bedroom/1 bath condo units, and then 2 bedroom/1 bath single family homes.
6. Average selling prices for the year are summarized below:
1. Single family homes comprise about 44% of our residential market; condominiums (including TICs and co-ops) are 56% of the total.
2. For the second year in a row the total number of sales has decreased by about 7%. From 2008 to 2012 the number of sales had increased between 3 and 16%.
3. The percentage of single family homes and condos that sold below $1,000,000 has reached a new low of 38%. 62% sold for over $1,000,000.
4. Only 110 homes sold below $500,000, less than 10 per month. Most of these were either fixers or part of a “below market rate” program where selling and re-sale prices are mandated/regulated by legislation.
5. 2 bedroom/2 bath condominium units were the most sought after home in San Francisco followed by 1 bedroom/1 bath condo units, and then 2 bedroom/1 bath single family homes.
6. Average selling prices for the year are summarized below:
7. Total market share by selling price range shows:
8. The most active real estate districts in San Francisco for single family home sales in 2015 were:
9.
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