While Halloween decorations are beginning to adorn homes around the City, the real estate market this fall is looking far from scary. Fueled by low mortgage rates and a strong economy, buyer and seller activity remain strong.
Year over year, new listings were down 23.7% for single family homes but increased 0.2% for Condo/TIC/Coops in September. Pending Sales increased 2% for single family homes and 2.7% for Condo/TIC/Coop properties. The median sales price was up 3.3% to $1,550,000 for single family homes and 14.8% to $1,320,000 for Condo/TIC/Coops.
Single Family Homes Year over Year Activity
Condo/Coop/TIC Year over Year Activity
As the temperatures starts to cool, we will see a seasonally cool down in the housing market. Buyers will find fewer homes coming on the market, but also less competition for those homes. These market fundamentals suggest no significant changes from recent trends.
Did You Know?
Uber Copter allows you to take a helicopter to and from the airport in Manhattan at around double the cost of a car....but at a fraction of the time!
More than two-thirds of U.S. homes sell for $400,000 or less, according to U.S. Census data and the National Association of Realtors. (WSJ)
Immigrants have driven two-thirds of U.S. economic growth since 2011. They founded 30% of U.S. firms, including more than 50% of startups valued at over $1 billion. (The Balance)
San Francisco Happenings
Union Square Art + Fashion Wine Walk
Thur | Oct 17 | 5:30- 8:30 PM
Half Moon Bay Pumpkin Festival
Sat & Sun | Oct 18 & 19
Grand National Rodeo
Sat | Oct 19 | 7:30 PM
37th Annual Sandcastle Classic
Sat | Oct 26 | 11:00 AM - 3:30 PM
Do you know anyone looking to move to what's next? Let's chat.
