With Fall now upon us and housing inventory scarce, demand has pushed the median price per square foot to new heights across San Francisco.
Single family homes continue to be the most desirable segment of the market, with the median sale price up 12.3 percent from Q3 2020, and the median price per square foot up 13.2 percent. Homes sell extremely quickly, with the median time on market just 12 days; though it is not uncommon for more popular homes to sell within a day or two of being listed, usually contingency free and well over asking. The neighborhoods that saw the largest increases in percent of list price received include the Sunset, Westwood Park, Sunnyside, and Excelsior. The areas with the highest median price per square foot include the Marina, Corona Heights, and Pacific/Presidio Heights.
While the median sale price for Condominiums ticked down 1.9 percent compared with last year, the median price per square foot increased 2.6 percent, there were 20.0 percent more sales, and they are selling much faster, with the median market time recording at 20 days. Over half of all condominiums that sold did so over asking, with the average price received 4.8 percent over asking. The neighborhoods that saw the largest increases in percent of list price received for condominiums include Corona Heights, Sunset, and the Richmond.
National mortgage rates decreased slightly this week, with FreddieMac reporting, 'Mortgage rates continue to hover at around three percent again this week due to rising economic and financial market uncertainties. Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.'
YEAR-OVER-YEAR COMPARISON
SINGLE FAMILY RESIDENCES
MONTH-OVER-MONTH COMPARISON
SINGLE FAMILY RESIDENCES
CHANGE IN PAST MONTH:
SALE PRICE -5.4%
DAYS ON MARKET -1 DAY
MEDIAN AREA VALUES
SINGLE FAMILY RESIDENCES
Q3 2021
* Small sample size (n<10); use caution when interpreting results.
TOP FIVE SALES IN Q3 2021
SINGLE FAMILY RESIDENCES
2640 BAKER STREET Cow Hollow
$9,000,000 $1,671/sq. ft. 4 bed / 5 bath 5,385 sq. ft.
151 24TH AVENUE Lake Street
$8,650,000 $1,587/sq. ft. 5 bed / 6 bath 5,450 sq. ft.
45 CAPRA WAY Marina
$9,350,000 $1,662/sq. ft. 4 bed / 6 bath 5,625 sq. ft.
33 5TH AVENUE Lake Street
$8,250,000 $1,491/sq. ft. 5 bed / 6 bath 5,535 sq. ft.
2850 STEINER STREET Pacific Heights
$7,850,000 $1,887/sq. ft. 4 bed / 4 bath 4,161 sq. ft.
YEAR-OVER-YEAR COMPARISON
CONDOMINIUMS/TIC/COOPs
MONTH-OVER-MONTH COMPARISON
CONDOMINIUMS/TIC/COOPs
CHANGE IN PAST MONTH:
SALE PRICE +4.7%
DAYS ON MARKET -1 DAY
MEDIAN AREA VALUES
CONDOMINIUMS/TIC/COOPs
Q3 2021
* Small sample size (n<10); use caution when interpreting results.
TOP FIVE SALES IN Q3 2021
CONDOMINIUMS/TIC/COOPs
706 MISSION STREET #36A Yerba Buena
$9,000,000 $2,507/sq. ft. 3 bed/4 bath 3,590 sq. ft.
1 STEUART LANE #1101 South Beach
$8,995,000 $3,836/sq. ft. 2 bed/3 bath 2,345 sq. ft.
1 STEUART LANE #1601 South Beach
$8,670,000 $4,012/sq. ft. 2 bed/3 bath 2,161 sq. ft.
401 HARRISON STREET #PH48B South Beach
$7,600,000 $2,365/sq. ft. 3 bed/4 bath 3,214 sq. ft.
706 MISSION STREET #18A Yerba Buena
$7,500,000 $2,340/sq. ft. 3 bed/4 bath 3,205 sq. ft.