Single-Family Home Market Soars in May

Single-Family Home Market Soars in May

May numbers are in, and the San Francisco single-family home market made an extremely strong showing last month.

Here’s a snapshot of what went down:
Average Price: $2,429,760
Median Price: $1,892,500
Average Size: 2,168 sq ft
Days on Market: 21
Average Overbid: 12.62%
20%+ Overbids: 102 (40%)

My Take
Buyers swarmed around the house inventory in May, with most homes selling for over the list price and going straight to pending with no contract contingencies. Seven homes sold for 45% or more over asking, with the prize going to the Parkside’s 2050 20th Avenue (see photo). The updated, two-bedroom house listed for the catch-all $995,000 price garnered tons of offers and sold for $1,660,000—66% over asking. The Sunset, Parkside and other neighborhoods west of Twin Peaks continued to go gangbusters as buyers sought houses with more space and yards. [Photo courtesy of Compass]

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Eileen Bermingham

Corcoran Global Living


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