I wanted to entitle this newsletter “Winter is Coming,” but decided that comparing buyers to the Dead Walkers might not go down well.  Besides, it’s buyers that have been getting the short end of the, um, spear for years now.  Prices really took off in 2012; with inventory relentlessly low (see my previous newsletter, it’s been a seller’s market ever since.

But everything slows down in winter.  There’s (even) less inventory, and buyers — being human — batten down the hatches from approximately Thanksgiving through early February.  Who wants to be out house-hunting when the weather’s turned cold and dreary? Besides, everyone is either preparing for or recovering from the Holidays.

Continue reading “Winter: The Best Time of Year — for Buyers”

As I was getting ready to send out yet another newsletter showing further year over year gains in home prices(see first two charts below for single family homes and condos, respectively), I took a closer look at a chart that focuses on the supply side of the supply/demand equation.

“New Listings Coming On the Market”  is the simplest indicator of how many homes are being put up for sale in any given time period.  Take a look at the chart below, which tracks new listings (homes, condos, etc.) on a rolling 12 month basis. 

Continue reading “Here’s What’s Really Sustaining the San Francisco Real Estate Market”

In last month’s newsletter, I said that initial signs pointed to a newly robust Spring housing market after evidence that prices had flattened somewhat — especially for condominiums — in 2016. The data gathered through May confirms that conclusion.

The median house sales price jumped to $1,500,000, its highest point ever, about $100,000 (7%) above its previous monthly peak. The SF median condo sales price also hit a new peak at $1,200,000, $20,000 (1.7%) above its previous high. Continue reading “It’s Official: San Francisco Housing Market Reignites”

Between 2012 and 2015, the median price of a single family home in San Francisco increase by around 70% as we came out of the Great Financial Crisis. Condominium prices increased by around 55% during the same period.

It’s not surprising, then, that the market took a breather and leveled off a bit during 2016. However, along with the return of warmer, dryer weather, buyers seem to be returning to the market in droves, and there is simply not enough inventory to meet demand. While it’s still a little too early to tell, our data suggests that things are heating up again. Continue reading “Spring Has Sprung Once Again in San Francisco’s Housing Market.”