Real Estate Market Update for January 2022
What’s New in San Francisco Real Estate
Analytics and charts from Compass
2021 was a busy year in the San Francisco real estate market. The following charts reflect the heightened level of activity, particularly for single family homes. This past year saw a return to a more normal seasonal cycle of sales, after the pandemic’s disruption of these patterns the year prior.
As we head into 2022, the inventory of homes for sale is ticking back up, with the net number of homes increasing by 9% last week, and inventory levels at 25% higher than pre-pandemic. We’re also seeing mortgage interest rates increase, with the average rate for a benchmark 30-year mortgage up 0.23 percentage points over the past week to 3.45%, the highest average rate since March of 2020.
Home Sales Volume Since 2005
Following the pandemic drop, 2021 saw home sales increase to the highest 12-month sales volume in at least 16 years.
Key Market Indicators - Year-Over-Year Comparison
Reflecting the demand for single family homes in San Francisco, the median house sales price in 2021 was $1,800,000. And despite a dip in demand for condos earlier in the year, 2021 saw the median condo sales price increase as well to $1,225,000.
House Sales Trends
While sales price to list price for houses was high throughout the City, the five neighborhoods reporting the highest percentages (all over 120%) were Outer Parkside, Central Sunset, Miraloma Park, Ingleside, and Excelsior.
Condo Sales Trends
Average Sales Price to List Price
Average Days on Market
Months Supply of Inventory
Inflation and Mortgage Interest Rates
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.
