OCTOBER 2021 WRAP-UP Last month, we saw a surge in buyer demand which pushed the median sales prices for both single-family homes and condominiums up a significant 12.8 percent and 8.5 percent respectively. As the year begins to wind-down and the holidays approach, we expect the market to slowdown as well. For buyers, the coming months can offer substantial opportunities in the form of reduced competition, fewer multiple offers, and more room to negotiate, leading to significantly better deals. This is also an excellent time for buyers to take a second look at listings that haven't yet sold, and consider making an aggressive offer. National mortgage rates once again dropped below three percent last week, with FreddieMac reporting, 'Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week. These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain strong into next year. However, affordability pressures continue to be an ongoing concern for homebuyers.' YEAR-OVER-YEAR COMPARISON SINGLE FAMILY RESIDENCES MONTH-OVER-MONTH COMPARISON SINGLE FAMILY RESIDENCES CHANGE IN PAST MONTH: SALE PRICE +3.4% DAYS ON MARKET No Change MEDIAN AREA VALUES SINGLE FAMILY RESIDENCES Q3 2021 * Small sample size (n<10); use caution when interpreting results. TOP FIVE SALES IN OCTOBER 2021 SINGLE FAMILY RESIDENCES 490 AVILA STREET Marina $19,750,000 $2,529/sq. ft. 7 bed / 10 bath 7,809 sq. ft. 2505 PACIFIC AVENUE Pacific Heights $14,500,000 $2,274/sq. ft. 6 bed / 6 bath 6,377 sq. ft. 3080 PACIFIC AVENUE Pacific Heights $13,800,000 $1,798/sq. ft. 6 bed / 9 bath 7,675 sq. ft. 2 LOCUST STREET Presidio Heights $11,200,000 $2,229/sq. ft. 4 bed / 6 bath 5,025 sq. ft. 1089 CHESTNUT STREET Russian Hill $9,999,000 $1,742/sq. ft. 5 bed / 8 bath 5,740 sq. ft. YEAR-OVER-YEAR COMPARISON CONDOMINIUMS/TIC/COOPs MONTH-OVER-MONTH COMPARISON CONDOMINIUMS/TIC/COOPs CHANGE IN PAST MONTH: SALE PRICE +2.0% DAYS ON MARKET -2 DAYS MEDIAN AREA VALUES CONDOMINIUMS/TIC/COOPs Q3 2021 * Small sample size (n<10); use caution when interpreting results. TOP FIVE SALES IN OCTOBER 2021 CONDOMINIUMS/TIC/COOPs 1 STEUART LANE #1904 South Beach $9,775,000 $3,343/sq. ft. 3 bed/3 bath 2,924 sq. ft. 1750 TAYLOR STREET #905 Russian Hill $7,500,000 $-/sq. ft. 2 bed/4 bath - sq. ft. 1750 TAYLOR STREET #605 Russian Hill $6,795,000 $-/sq. ft. 3 bed/3 bath - sq. ft. 2500 STEINER STREET #3 Pacific Heights $6,500,000 $1,857/sq. ft. 5 bed/4 bath 3,500 sq. ft. 1100 UNION STREET #1100 Russian Hill $6,250,000 $2,495/sq. ft. 2 bed/3 bath 2,505 sq. ft. YEAR-OVER-YEAR COMPARISONS MEDIAN SALE PRICE $1,810,000 +12.8% year-over-year $1,250,000 +8.5% year-over-year MEDIAN MARKET TIME 12 Days -1 day year-over-year 16 Days -16 days year-over-year NUMBER OF SALES 308 Properties Sold +1.0% year-over-year 355 Properties Sold +21.6% year–over–year Sources: SFAR MLS, Data from 7/1/2021 - 9/30/2021 was used for neighborhood values. Property types covered: single-family, condominium/TIC/COOP. Only property data posted on the MLS is covered. BMRs and senior housing have been excluded from stats, where possible. All Photos are sourced by the SFAR MLS and owned by their respective brokerages. All information is deemed reliable, but not guaranteed for accuracy. All data is subject to errors, omissions, revisions, and is not warranted. ©2021 Vanguard Properties. All rights reserved. Equal Housing Opportunity. DRE No. 01486075