The San Francisco real estate market isn’t showing any signs of slowing down. Buyers went into contract in December on 94 single-family homes, 77 condos and 24 TICs, obviously taking advantage of the low interest rates and end-of-year bargains.

The last quarter of 2011 stayed on par with that of 2010. A total of 635 houses sold at an average of $987,196, again proving that the under-$1M club is still kickin’ when it comes to inventory being moved. There were 493 condos that sold at an average of $784,173. Again, not a big change from the same time in 2010.

Current inventory is fairly low, which isn’t surprising for this time of year. I’m expecting more sellers to put their homes on the market as the month wears on; those who are motivated or have to sell will be in a good position with respect to pent-up buyer demand.

Though loans are still a challenge to obtain due to tighter lender scrutiny, plenty of properties are selling. The key factor in closing sales in 2012 will be due diligence—making sure that lenders are aware of all buyer details up front. These days, I continue to insist upon lenders reviewing full buyer and property documentation before an offer is even made (especially when it comes to condo purchases). This guards against a lot of wasted time and buyer/seller disappointment.

I’m expecting a busier year in terms of volume in 2012, based on my own experience, as well as conversations with my colleagues. It will likely be business as usual, which means carefully navigating escrows by skillfully handing negotiations and addressing lender concerns.

Single-family homes sales up 2.1% in the last 180 days? Check. Condo sales down? Check.

The latest Zephyr MarketTracker drills down on the most recent San Francisco sales, and also includes a look at Noe Valley and the most expensive sale in the city.

It’s all here in MarketTracker.

The third quarter of 2011 is under our belts, and it’s a good time to assess the current San Francisco market.

My response to the typical “How’s the market?” inquiry that I get from clients, neighbors and friends continues to be: “It depends where you’re talking about.” San Francisco has its fog/warm weather microclimates, and it also has real estate microclimates. Since the downturn of 2008, some neighborhoods have been moving along somewhat unscathed (Pacific Heights, Noe Valley), while others continue to take dives (Ingleside, Bayview). Additionally, certain price ranges have been going gangbusters, while others have dried up.

There’s still new development happening in the city, though on a smaller scale. Though we don’t have any big highrises in the works, a number of small-scale (i.e., four  to six units) new construction properties continue to hit the market. So funding for these projects has not diminished.

A total of 576 single-family homes sold in the third quarter at an average of $966,113. They spent an average of 61 days on market, which is far below that of the national or even state average. But the real news here is the fact that almost half of these houses sold in the $500,000-$1M price range. And only 159 homes sold above $1M.

There’s a similar story on the condo end of things. 504 condos sold in the last quarter, with 300 such properties selling in that same $500,000-$1M range. Only 68 sold above $1M. The average condo price? $711,029.

However, the luxury segment of the market has been relatively strong, despite the economy. For example, a $5,750,000 Nob Hill penthouse in “raw condition” changed hands recently and is now ready for the new owner to renovate. There were also a fair number of multi-million dollar cash sales that took place.

Sellers ended up withdrawing listings or letting them expire in a big way. A total of 286 houses and almost 400 condos fell into this category in the third quarter—a very high number for only a few months’ time. That means there are still many sellers out there who haven’t yet adjusted to the fact that their properties may not be what they believe they’re worth.

I’m seeing strong buyer activity heading into the fourth quarter, fueled by the low interest rates and healthy job market in the San Francisco area (particularly where tech companies are concerned). My prediction for sales numbers by year end is that they’ll be an improvement over 2010, but not by a landslide. We still have a few years to go before we emerge from the murky waters of the current real estate pond.

The first half of 2011 is in the bag. Our San Francisco real estate market has been seeing its share of ups and downs–and so have its buyers and sellers.

I’ve observed a fair share of what I like to call “mood swings” in the market. On the one hand, there are properties that are sitting on the market and ultimately selling for far below their original list prices. This outcome has been most common among luxury properties.

But on the other hand, some homes are garnering multiple offers and sales prices for well above their list prices. For example, a single-family home on a coveted block in Cole Valley was recently listed for $1,095,000 and ended up selling for $1,350,000. (And it needed updating.)

A total of 622 houses sold in the second quarter of this year, at an average of $991,747. Only 176 of the homes sold for more than $1M. On the condo side of things, a total of 573 units sold at an average of $792,797. The takeaway? Prices aren’t plummeting in San Francisco.

Multi-unit buildings seem to be very popular these days with buyers looking to owner occupy and invest for the long term. A total of 99 two- to four-unit properties sold in the second quarter across all price ranges. Some buyers are paying top dollar for the opportunity to own such buildings in desirable north end neighborhoods such as Pacific Heights and Russian Hill.

There are currently 568 single-family homes, 652 condos, and 158 TICs available.  And 411 houses, 363 condos, and 62 TICs are in contract. Inventory is actually a bit light due to the summer months. But I’m anticipating that the usual flood of activity will occur in September and October.

San Francisco continues to see its share of rapidly selling foreclosure properties, as well as an increasing number of short sales. However, only a handful of neighborhoods are seeing the bulk of these sales.

The first quarter of the year is under our belt, and it’s a good time to evaluate the San Francisco real estate market.

I’m not the type of Realtor who sugarcoats my industry. Though lots of homes are selling in the city, let’s face it: We’ll never see the go-go years of the mid-2000s again. Lending is a whole different ballgame, and there are simply less buyers who can qualify for mortgages. Many individuals are electing to spend hefty amounts of money per month on rents that will let them live in the neighborhoods they like, without needing top credit scores or 20% down for a comparable owned property.

The job market is better than it was a couple years ago in The Bay Area, with tech companies like Apple and Google hiring and others opening headquarters in San Francisco. (And Peninsula tech shuttles are still the hot mode of transportation for Silicon Valley works who insist on living in southern neighborhoods like Noe Valley and Mission Dolores.) But it will take longer for other industries to catch up and offer high-paying positions to large numbers of individuals.

Buyers and sellers, however, are doing steady business in the city. A total of 468 houses sold in the first quarter of this year, at a rather high average of $927,008. 109 of those houses sold for more than $1M—and 38 even changed hands for more than $2M—but the rest were under the $1M mark. That tells you that the sweet spot of the market continues to be the tried and true $400,000-$800,000 price range.

There were 477 condos that sold for an average of $696,326, with the most expensive being a unit in One Rincon for $2M. Again, the bulk of condos sold were less than $1M, with a condo in Bayview selling for as little as $108,000.

The withdrawn/expired segment was somewhat consistent with the first quarter of 2010, though the 433 houses and condos that sellers pulled from the market was a slightly higher number than the 428 withdrawn or expired properties in Q1 2010. I’m guessing that many of the sellers in this category are still disappointed with the current values of their properties, and have decided to take the “I’ll-sell-if-I-can-get-$X” approach vs. selling for what the market will bear.

There are currently 631 condos and 560 single-family homes available, with 372 condos and 398 houses in contract. Surprisingly, a modest number of those homes got into contract via multiple offers. However, in those cases, the strategy involved setting a list price below comparable values. That still seems to lure buyers in, particularly with properties that have central locations and independent parking.

It’s important for homeowners who are considering selling their properties this year to pay close attention to the comparable sales from the first quarter. These sales are the ones that will genuinely dictate where the market is at the moment.