San Francisco Market Report – July 2013

In San Francisco, new Listings were down 5.9 percent for single family homes but increased 8.9 percent for Condo/TIC/Coop properties. Pending Sales increased 6.6 percent for single family homes and 10.1 percent for Condo/TIC/Coop properties.

San Francisco Median Sales Price was up 15.2 percent to $885,000 for single family homes and 24.6 percent to $860,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 25.0 percent for single family units and 28.6 percent for Condo/TIC/Coop units.

With mortgage rates slightly up, but relatively low by historic standards, the Fed has indicated no change in monetary policy based on a moderately-paced economic expansion. Housing continues to help the greater economy with flourishing activity in sales and prices. Housing has made a positive contribution to real GDP growth for 11 consecutive quarters.

July 2013 Median Price Days on Market
Single-Family Homes $885,000 33 Days
Condos/TICs $860,000 37 Days

 

To view the full July market report from the San Francisco Association of Relators click here.

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