End of 2011 San Francisco Market Activity Under $1M

Wednesday, January 4th, 2012 @ 11:25 am | Buyers, Market Trends, San Francisco Real Estate, Sellers

Property Sales for homes and condos

December Property sales were 413, down -4.2% from 431 in December of 2010 and -4.4% lower than the 432 sales last month. December 2011 sales were at their lowest level compared to December of 2010 and 2009. December YTD sales of 5,160 are running 5.5% ahead of last year’s year-to-date sales of 4,891.

Prices  for homes & condos

The Median Sales Price in December was $550,000, up 1.7% from $541,000 in December of 2010 and equal to $550,000 last month. The Average Sales Price in December was $541,583, down -2.8% from $557,001 in December of 2010 and down -3.6% from $561,893 last month. December 2011 ASP was at the lowest level compared to December of 2010 and 2009.

Inventory for homes & condos

 The Total Inventory of Properties available for sale as of December was 950, down -40.6% from 1,600 last month and down -50.3% from 1,912 in December of last year. December 2011 Inventory was at the lowest level compared to December of 2010 and 2009.

Housing Absorption (MSI) for homes & condos

MSI is the number of months it takes to sell the current inventory at  the monthly sales pace.  A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2011 MSI of 2.3 months was at its lowest level compared with December of 2010 and 2009.

Market Time for homes & condos

The average Days On Market (DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for December was 84, up 5.0% from 80 days last month and up 2.4% from 82 days in December of last year. The December 2011 DOM was at its highest level compared with December of 2010 and 2009.

Selling Price per Square Foot for homes & condos

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The December 2011 Selling Price per Square Foot of $423 was down -4.1% from $441 last month and down -4.1% from $441 in December of last year.

Selling Price vs Original Listing Price for homes & condos

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The December 2011 Selling Price vs Original List Price of 99.8% was down from 100.3% last month and up from 98.3% in December of last year.

 

 

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