Number of Homes For Sale Up Compared To Last Year

We track the number of active listings on the market in San Francisco once a month, usually on the 8th.  Early in February, the number of active listings was significantly higher than a year ago (355 vs 255).

We also track five configurations of single family homes and condos.  The increase in active listings was seen in each of those five configurations.

The number of active listings was at its highest since 2013.

* Survey is usually done within 7 or 8 days after the beginning of the month.
** These five configurations represent approximately 60% of residential real estate sales in San Francisco.

New Listing Watch - Fewer Than Two Weeks Ago

The number of new listings during the past two weeks is down compared to the prior two week period (242 vs 264).  The drop was entirely in the single family home category (81 vs 108).  In contrast the number of new listings of condos increased slightly (161 vs 156).

Compared to the same period last year the number of new listings is also down (242 vs 283).  Again the difference is almost entirely in the single family home sector (81 vs 113).

The number of new single family home listings that went into contract in the same two week period is down compared to the prior two week period is down (9 vs 14) but up for condos (29 vs 18).

Price reductions are slightly higher compared to the prior period (38 vs 34) and higher than last year (38 vs 28).

The full report is available at our web site.

New Listing Watch -- jump in new listings

As happens every year at this time (post New Years holidays), new listings in the past two weeks jumped up significantly compared to the previous period (313 vs 234) and compared to a year ago (313 vs 274) -- 14% and 35% respectively.

The percentage of new listings going into contract in the same two week period was 10.5% of single family homes and 15.1% of condos.

There were only 4 price reductions of single family homes and 4 reductions of condos.

The full report is available at our web site:  www.boldsf.com/Statistics

Cost vs Value of home improvement projects

Remodeling magazine is out with its 2019 Cost vs. Value Report, an annual list of the home improvement projects with the most and least return on investment (ROI).  There is date for national averages, regional averages, and local (eg. San Francisco) average costs for 22 different projects.

In San Francisco, the magazine says the top three projects in terms of ROI are:

• Manufactured stone veneer
• Garage door replacement
• Grand entrance (fiberglass)

All of those projects show a positive ROI.

The bottom three projects in terms of ROI are:

• Roofing replacement (metal)
• Backyard patio
• Master suite addition

Those three projects each has an ROI of less than 75%.

As they say, "your experience may vary".

Annual Sales Comparison

Contrary to statistics being reported by the National Association of Realtors, the number of residential sales in San Francisco in 2018 increased slightly compared to the previous year:

The increase was 1.8%.  In 2017 the increase was 2.2%.  Prior to that we had three years of a decline in the number of sales year-over-year.

Looking at the comparison of first half to second half of the year, most of the increase in 2018 compared to 2017 was in the first 8 months. 

For the past three years the number of sales in the 2nd half of the year has been declining slightly.

As is typically the case, the number of residential sales in San Francisco always hits its peak in May/June and then again in October.  Not surprisingly, the fewest number of sales happen in January/February and then again in September.  Keep in mind that most sales are recorded on average about 30 days after a property goes into contract.  That's most obvious when we show the lowest number of sales in January because most buyers have other activities occupying their time and attention in December.