SF House Market Report: October 2023
Big overbids, properties sitting on the market and a luxury market liftoff contributed to a mixed-bag month.
Neighborhoods
Big overbids, properties sitting on the market and a luxury market liftoff contributed to a mixed-bag month.
The tenancy-in-common (TIC) market continues to represent a small slice of properties sold in San Francisco. But TICs can put buyers on a path to get more space in a better location than a condo will allow.
High HOA dues combined with high interest rates are bogging down the condo market.
We saw year-over-year (YOY) drops in volume and median price in September, but the luxury market came to life with a $17.5M penthouse closing after almost 500 days on the market.
Transactions are harder these days, and there aren’t enough able and willing buyers for all our high-priced inventory.
We’re seeing almost a quarter of all buyers paying cash for single-family homes and condos.
My new vacant two-unit building listing in Noe Valley is perfect for TIC partners or owner occupiers looking to rent the other unit.
We’re still seeing lots of condo inventory in San Francisco, and I’m hoping buyers take advantage of the recently lower interest rates to purchase some of the available units.
My new listing in the Valencia Corridor is a direct hit for those looking for a charming Victorian with period detail with a large bonus space and big shared garden.
My clients are closing today on a beautiful condo in the heart of Hayes Valley—for a great price.
June house sales were a direct reflection of a busy spring market. Here’s the latest on how this segment of the market did last month.
The Millennium’s tilting and leaning drama is finally ending as $100M worth of foundation work wraps up. But a soft downtown condo market won’t help Millennium values recover quickly.
The San Francisco condo market is still sluggish, with way more units on the market than there are in contract. The good news, however, is that buyers don’t appear to be giving up on purchasing condos in the city.
San Francisco single-family home sales continued on their upward trajectory in May—good news for what’s typically the peak time of year for the real estate market here.
Buyers with low- to moderate incomes in The Bay Area can take advantage of loan programs that offer cash back and down payment assistance for home purchases located within specific Housing and Urban Development (HUD) census tracts.