Real Estate Market Update for October 2021
What’s New in San Francisco Real Estate
Analytics and charts from Compass
As anticipated, this year the market in San Francisco and throughout the Bay Area is seeing a return to typical seasonal patterns. While the pandemic last year upended these patterns, the market is trending back to a busy fall market, quieter winter, busy spring, and slower summer. This year, the average dollar per square foot for houses reached a new high and condo values are gradually increasing, nearing their previous peak in 2019.
Upswing in Inventory
As is typical with the month of September, new listings reached a peak for the year. New listings in September were also at a similar level to 2020, both an increase over new listings in 2018 and 2019.
While down from last year’s fall market, the current level of active listings is slightly higher than we have seen in previous years. It’s worth noting that the number of houses is much lower than condo listings, reflecting the ongoing demand for houses in the market.
Market Trends Returning to Normal Patterns
While we saw the typical pattern of sales trends upended last year, due to the pandemic, this year appears to show a return to the typical, seasonal ebbs and flows in the market from previous years.
While average dollar per square foot values hit a new high for houses this year, condo values remained a little below their previous peak in 2019.
House Sales Price Trends & Appreciation
Along with every other county in the Bay Area during the spring and early summer, the year-over-year appreciation rate for San Francisco houses peaked slightly in July.
House Sales Statistics by Select Neighborhoods
Condo Price Appreciation Trends
Median condo sales prices have fluctuated since the pandemic, but have gained since its lowest point after the pandemic started. Currently, prices are similar to where they were in the spring of 2018.
Condo Sales Statistics by Neighborhood
San Francisco Market Dynamics
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.
