Market Activity Over $1 Million Year-End in San Francisco

Friday, January 6th, 2012 @ 4:30 pm | Buyers, Market Trends, San Francisco Real Estate, Sellers

Home & Condo/Coop Property Sales

December Property sales were 80, down -20.0% from 100 in December of 2010 and -15.8% lower than the 95 sales last month. December 2011 sales were at a mid level compared to December of 2010 and 2009. December YTD sales of 1,020 are running 2.2% ahead of last year’s year-to-date sales of 998.

Home & Condo/Coop Sold Prices

The Median Sales Price in December was $1,348,500, down -7.4% from $1,455,500 in December of 2010 and down -14.9% from $1,585,000 last month. The Average Sales Price in December was $1,916,134, up 5.9% from $1,809,866 in December of 2010 and down -15.2% from $2,258,616 last month. December 2011 ASP was at highest level compared to December of 2010 and 2009.

Home & Condo/Coop Inventory & MSI

The Total Inventory of Properties available for sale as of December was 174, down -43.9% from 310 last month and down -28.4% from 243 in December of last year. December 2011 Inventory was at the lowest level compared to December of 2010 and 2009.

Home & Condo/Coop Absorption of Inventory (MSI)

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 2.2 months was at its lowest level compared with December of 2010 and 2009.

Home & Condo/Coop Market Time

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 73, up 21.7% from 60 days last month and equal to 73 days in December of last year. The December 2011 DOM was at its lowest level compared with December of 2010 and 2009.

Home & Condo/Coop Selling Price per Square Foot

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 $681 was down -11.7% from $771 last month and down -1.4% from $691 in December of last year.

Home & Condo/Coop Selling Price vs Original Listing Price

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 99.6% was up from 99.0% last month and up from 98.0% in December of last year.

Based on information from San Francisco MLS for the period  through 12/31/2011. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market.

 

 

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