Real Estate Market Update for October 2023
What’s New in San Francisco Real Estate
Analytics and charts from Compass
The typically strong fall market was impacted by challenging economic indicators, with interest rates continuing to rise, lower stock markets, and new geopolitical conflict. The median house sales price in Q3 is down 6.5% from Q3 2022, while condos prices were down about 4%. New listings jumped in September and the supply of listings hit a YTD high, which may lead to increased sales towards the end of the month.
House Price Trends
Condo Price Trends
New Listings Coming on Market
Following typical seasonal patterns, September saw the highest monthly number of new listings in the past 12 months. As of October 1, 33% of listings were houses and 67% were condos, co-ops, TICs, and townhouses.
Listings Accepting Offers
Price Reductions on Active Listings
Mortgage Interest Rate Trends
As of October 12, Fannie Mae reported U.S. weekly averages for 30-year fixed-rate mortgages at 7.57%, climbing for the fifth consecutive week.
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.
