Real Estate Market Update for August 2021
What’s New in San Francisco Real Estate
Analytics and charts from Compass
Short-Term Market Dynamics & Seasonality
While the number of listings going into contract were higher than in the past two years, new listings and closed sales began to decline, reflecting the typical seasonal trend.
Longer-Term Trends in New Listings & Sales Volume
On the heels of the pandemic slump, sales volume and new listings reached 15-16 year highs, reflecting the increased activity in the market.
Dollar Volume Home Sales in First Half of the Year
$6.7 billion dollars in home sales were reported on the MLS in the first half of 2021, an increase of 49% over the previous peak in the first half of 2018.
Home Price Appreciation
Home price appreciation achieved a new high in 2021.
Median House Sale Price Trends in Select Neighborhoods
Median Condo Sale Price Trends
Median sales prices for condos have increased in 2021, but remain slightly below the peaks in 2019 and 2020.
Buyer Demand & Overbidding
Buyer demand has been high for properties in the City. Houses saw an average sales price increase to 16%+ over the original list price.
Mortgage Interest Rate Trends
As of August 5, 2021, the weekly average 30-year fixed-rate mortgage rate was 2.77%, which is slightly above its lowest point of 2.65% in January of 2021. Rates for a 15-year loan are at an historic low of 2.1%.
The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information.
