SAN FRANCISCO, CONDOMINIUMS
The supply of condominiums on the market in San Francisco rose solidly in January and February, reaching a 1.9-month supply, but the gain was short-lived. The supply fell to 1.2 months in March and continued sliding in April to 1 month.Condos lasted an average of just 40 days on the market before a sale was pending, the second-lowest level in a year’s time. In April 2012 the days on the market averaged 70 days.
The median sales price for condos was $912,500, a big jump up from $730,250 a year ago. Sales prices averaged nearly 5 percent above asking prices.
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Condo Update
SAN FRANCISCO, SINGLE-FAMILY HOMES
The median sales price for single-family homes in San Francisco reached $1 million in April, the highest level in more than five years and a big jump from just three months ago when the median sales price was $748,000.Sellers also enjoyed a sales premium of more than 8 percent above asking prices.
Homes sold after an average of 32 days on the market, down from 58 days in December and 54 days a year ago. The inventory of available homes remained near the lowest levels in several years at 1.3 months’ supply.
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Single Family Home Update
