State of the Market – San Francisco & Peninsula

[Ken and Ari Walker]

December 2019

Average sale price for a Single Family Home in San Francisco in November 2019 was $1,995,413 vs 

October of 2019 – $1,928,523. Average selling PRICE per SQFT $1,033.28. Avg Days on Market 24.

Average for Single Family House being Sold in San Francisco in November
Listing Price $1,849,328
Listing Price Per Sq. Ft. $937.95.
Selling Price $1,995,413
Selling Price Per Sq. Ft. $1,033.28

Average sale price for the Condo/Coop/TIC/Loft in San Francisco in November 2019 was $1,330,776 vs October of 2019 – $1,446,538. Average selling PRICE per SQFT $1,085.09. Avg Days on Market 33.

Average sale price for 2-4 Units in San Francisco in November 2019 was $2,104,121 vs October of 2019 – $2,420,603. Average selling PRICE per SQFT $725. Avg Days on Market 45.

Average sale price for 5+ units in San Francisco in November 2019 was $5,306,500 vs October of 2019 – $4,284,333. Average selling PRICE per SQFT $507. Avg Days on Market 65.

Inventory of properties for sale in San Francisco as of December 13, 2019 = 685
Single-Family Homes = 154
Condo/Coop/TIC/Loft = 389
2-4 Units = 114
5+ units = 28

Average Single Family House being listed for sale in San Francisco today – Dec 13th 2019
Bedrooms 4
Baths 3.16
Square Feet 2947
Lot Size 0.07
Listing Price $4,045,895
Listing Price Per Sq. Ft. $1,084.75

All the properties Sold in November 2019 – 498.

There is currently LESS than 1,5 month worth of inventory, meaning if there was not another home listed, it would take just about one and half month for all the current homes on the market to sell.
Once we reach 6 months of inventory, the market will turn to a Buyer market.

Out of 197 Single Family Houses sold in San Francisco in November of 2019,
31 sold below asking price,
14 for asking price and
152 sold for over asking price.
4 for over $500,000,
1 for over $600,000,
1 for over $700,000,
1 for over $800,000,

Example of property sold over asking.
231 Waller St San Francisco CA 94123

6 – Hayes Valley
3 bed
2 batt
1920 built
2535 sqft
3207 sqft Lot Size
List price – $2,395,000
Sold Price – $3,210,000
Difference- $815,000

Pending as of today December 2019
San Francisco County 120 (all properties)
San Mateo County 297 (Single Family/Condo/Townhouses)
Santa Clara County 673 (Single Family/Condo/Townhouses)

December 2019 Peninsula/Silicon Valley Market Update
In Menlo Park, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 33 days vs 23 days one month prior with the average sale price $2,851,403.00 (in October was $2,679,510.00. Price Received was 3% MORE than an asking price.

In Foster City, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 13 days vs 19 days one month before with the average sale price $1,624,400.00 (in October was $1,742,000.00). Price Received was 4% MORE than an asking price.

In Belmont, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 17 days with the average sale price $1,797,134.00 (in October was $1,989,213.000). Price Received was 1% MORE than asking price.

In San Carlos, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 19 days with the average sale price $2,107,629.00 (in October was $2,040,402.00. Price Received was 1% MORE than asking price.

In San Mateo, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was only 24 days with the average sale price $1,567,243.00 (in October was $1,662,157.00. Price Received was 4% MORE than asking price.

In Burlingame, CA – AVERAGE DAYS ON MARKET for Single Family Houses in November was 19 days with the average sale price $2,401,875.00 (in October was $2,382,800.00). Price Received was THE SAME as asking price.

If you were thinking of selling your home in the near future, now is the time to do so to get the top dollar for your home before the market has a chance to turn.

Reminder: As you know that I am in real estate sales and my passion is to bring buyers/sellers together.
Who have you talked to in past couple days that might be thinking about buying/selling in San Francisco and/or in Silicon Valley or anywhere in the US/Canada (I am blessed to be a part of a huge network that I meet/talk-to on regular basis which is the backbone of my business that my clients benefit from).

Shared by, 

Valeriy Krysov, REALTOR®
Real Estate Broker
CalBRE Lic #01847176
Ph: [phone]
RealtyFinancial.com

Best, Forest – The Guy in the White Hat
Hard Money Broker and Co-Owner of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988! 707-523-2099   www.sunpacificmortgage.com. 
CA DRE license #010005559 and NMLS #289456 

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