San Francisco Real Estate Market Report – September 2021
In August, San Francisco’s median sold price for single-family homes was $1,855,000, up 12% from August 2020; just short of the all-time high of $2,100,000 two months prior.
The number of homes sold stayed stagnant month over month, increasing only by one unit to 212 while the number of new listings is 137, which was down 33% month over month and 56.8% year over year. The inventory on the market remains low at just 0.9 months.
This reflects a national trend - more residential sales transactions year-to-date than any prior year, and predictions that this pace will continue with 2021 closing out approximately 17% above a “normal” year’s 5.5 million home sales.
The median sold price per square foot was up 4% year over year, to $1,072.
In the condo/loft/TIC market, the median sales price dropped slightly to $1,205,000. That’s down from last August when it was $1,275,000. Median sales prices have been bouncing around in the low to mid $1.2’s this year and last with the trend being downward the last few months.
The number of condo/loft/TIC sales was up 32.5% compared to last August, while the number of new listing was down 65.5%. Condo/loft/TIC inventory a small change to 1.6 months.
With higher inflation, interest rates may rise which will create countervailing downward pressure on home prices due to the resulting higher monthly payments.
Median Sold Price
Average Days on the Market
Sold Listings & New Listings
Percentage of List Price Received
