Each month we prepare a one-page "fundamentals" report, one each for San Francisco, Marin and Sonoma. Here are some highlights for Marin and San Francisco:
Marin Fundamentals – March sales were up substantially
compared to last month 163 to 100 (single family homes) and 54 to 46 (condos).
Average selling prices were up $2,002 compared to $1,952 for
single family homes but, as you can see, that increase was not uniform across all
configurations. Same with condos: with average selling price $897 vs $859 a
month ago.
Inventory has increased 126 compared to 96 at the beginning
of February (single family homes) and 63 compared to 57 (condos).
San Francisco Fundamentals – the number of sales and average
selling prices were up with a one exception.
Sales increased slightly for single family homes 239 vs 236 a month
ago. For condos sales increased substantially
367 vs 236 (55%). Average sales prices
have increased for single family homes ($2467 vs $2335 – 6%) and condos ($1,417
vs $1,377 – 3%). The average premium
(selling price / asking price) for single family homes is 117% for single family homes) and
106% for condos (about the same as last month).
Annual average sales prices are at record highs for the two
categories of single family homes we track.
The largest condo configuration we track (2/2) is also back at all time
highs with 2/1 condos on $35k off its all time high (2019). Smaller condos like the 1/1 configuration are
recovering more slowly.
Days-on-market have decreased across the board.
Inventory of single family homes is flat (203 vs 204) but
condo inventory has jumped 10% to 734 vs 662 a month ago.
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