Real Estate Market Update for April 2023
What’s New in San Francisco Real Estate
Analytics and charts from Compass
The market is still in a period of rebalancing from the intense level of activity we saw in the past two years. Buyer demand continued to rebound from the mid-winter slowdown. The number and percentage of listings going into contract and overbiddding percentages continued to climb. In addition, days on market dropped, as the spring market gained some traction. While on a year-over-year basis, the market is slower, it bears repeating that Q1 2022 was an overheated market, near the peak of an historic, 10-year boom.
House Price Trends
The median house sales price in Q1 2023 was down about 18% compared to Q1 of 2022.
Condo Price Trends
The median condo sales price was down about 7% from Q1 2022.
New Listings Coming on Market
The number of new listings is running well below the new listings in March of 2022 and 2021.
Active Listings
Supply and Demand
Listings Pending Sale
Listings Accepting Offers
Monthly Sales Volume
Price Reductions on Active Listings
Overbidding and Sales Over List Price
Average Days on Market
Mortgage Interest Rate Trends
As reported by Freddie Mac on April 6, the weekly average for a 30-year fixed rate mortgage was 6.28%.
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.
