Climb's MARKET UPDATE SAN FRANCISCO, CA 94107
· Current Real Estate Market Conditions for Condos & Townhomes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics
· Report for the week of September 07, 2015
· Presented by Climb Real Estate Group Climb Real Estate Group www.climbSF.com 415.431.8888
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City Overview
Condos & Townhomes in
SAN FRANCISCO, CA
Climb Real Estate Group, San Francisco 415.431.8888
This Week
Real-Time Market Profile
The median list price in SAN FRANCISCO, CA this week is $913,500. The 248 properties have been on the market for an average of 46 days.
$ 913,500
Average List Price
$ 1,289,450 $ 925
Asking Price Per Square Foot
≠≠ ≠
Average Days on Market (DoM)
46
==
Inventory of Properties Listed
248
≠≠
Most Expensive Listing
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Trend
Median List Price
$ 9,495,000
Least Expensive Listing
$ 214,232
Average Age of Listing
30
Percent of Properties with Price Decrease
7%
Percent Relisted (reset DOM)
3%
Percent Flip (price increased)
3%
Median House Size (sq ft)
1106
Median Number of Bedrooms
2.0
Median Number of Bathrooms
2.0
Supply and Demand
Altos Research Value Statistics
In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller's market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Market Action Index
Strong Seller's
55.4
±+
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
±+
No change
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Characteristics per Quartile Quartile
Median Price
Sq. Ft.
Beds
Baths
Top/First
$ 1,750,000
1613
2.0
2.0
11
62
8
14
76
Most expensive 25% of properties
Upper/Second
$ 1,096,500
1205
2.0
2.0
14
62
12
18
41
Upper-middle 25% of properties
Lower/Third
$ 849,000
954
1.0
1.0
14
62
9
7
28
Lower-middle 25% of properties
Bottom/Fourth
$ 586,500
741
1.0
1.0
24
62
11
10
38
Least expensive 25% of properties
Page 2 of 11
Age Inventory
New
Absorbed
Monday September 7, 2015
DOM
Condos & Townhomes in
City Overview
SAN FRANCISCO, CA
Climb Real Estate Group, San Francisco 415.431.8888
Median Price Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
7-day Average
90-day Average
Quartile Prices Prices at the upper end of the market have been showing weakness. While there is enough demand in the low end (Quartiles 3 and 4) to keep prices flat, unless there is a persistent up-shift in the Market Action Index, the entire market may resume a down trend soon.
First/Top
Page 3 of 11
Second/Upper
Third/Lower
Monday September 7, 2015
Fourth/Bottom
Condos & Townhomes in
City Overview
SAN FRANCISCO, CA
Climb Real Estate Group, San Francisco 415.431.8888
Price per Square Foot The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.
7-day Average
90-day Average
Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
7-day Average
Page 4 of 11
90-day Average
Monday September 7, 2015
Condos & Townhomes in
City Overview
SAN FRANCISCO, CA
Climb Real Estate Group, San Francisco 415.431.8888
Market Action Index The SAN FRANCISCO market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 55.41; indicating very little supply relative to the demand.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
Page 5 of 11
Monday September 7, 2015
Condos & Townhomes in
City Overview
SAN FRANCISCO, CA
Climb Real Estate Group, San Francisco 415.431.8888
Days on Market The properties have been on the market for an average of 46 days. Half of the listings have come newly on the market in the past 24 or so days.
7-day Average
90-day Average
Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top
Page 6 of 11
Second/Upper
Third/Lower
Monday September 7, 2015
Fourth/Bottom
Neighborhood Detail
Condos & Townhomes in
SAN FRANCISCO, CA 94107
Climb Real Estate Group, San Francisco 415.431.8888
This Week
Real-Time Market Profile
The median list price in SAN FRANCISCO, CA 94107 this week is $959,000. The 35 properties have been on the market for an average of 41 days.
$ 959,000
Average List Price
$ 998,523
≠≠
$ 942
±+
Average Days on Market (DoM)
41
==
Inventory of Properties Listed
35
≠≠
Asking Price Per Square Foot
Most Expensive Listing
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Trend
Median List Price
$ 1,699,999
Least Expensive Listing
$ 324,676
Average Age of Listing
20
Percent of Properties with Price Decrease
9%
Percent Relisted (reset DOM)
3%
Percent Flip (price increased)
0%
Median House Size (sq ft)
1065
Median Number of Bedrooms
1.0
Median Number of Bathrooms
2.0
Supply and Demand
Altos Research Value Statistics
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Market Action Index
Strong Seller's
61.2
==
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer.
Trend Key:
±+
No change
== Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend
Characteristics per Quartile Quartile
Median Price
Sq. Ft.
Beds
Baths
Top/First
$ 1,448,976
1400
2.0
2.0
12
8
1
2
61
Most expensive 25% of properties
Upper/Second
$ 1,000,000
1362
1.0
2.0
15
9
1
3
33
Upper-middle 25% of properties
Lower/Third
$ 879,000
892
1.0
1.0
13
9
2
2
26
Lower-middle 25% of properties
Bottom/Fourth
$ 699,900
752
1.0
1.0
11
9
1
1
45
Least expensive 25% of properties
Page 7 of 11
Age Inventory
New
Absorbed
Monday September 7, 2015
DOM
Condos & Townhomes in
Neighborhood Detail
SAN FRANCISCO, CA 94107
Climb Real Estate Group, San Francisco 415.431.8888
Median Price Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
7-day Average
90-day Average
Quartile Prices In the quartile market segments, we see the market's price weakness almost across the board. Prices in Quartile 4 have been mixed recently, while the rest of the market is trending downward. Look for a strong, persistent up shift in the Market Action Index as a leading indicator of the trough in the market.
First/Top
Page 8 of 11
Second/Upper
Third/Lower
Monday September 7, 2015
Fourth/Bottom
Condos & Townhomes in
Neighborhood Detail
SAN FRANCISCO, CA 94107
Climb Real Estate Group, San Francisco 415.431.8888
Price per Square Foot Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
7-day Average
90-day Average
Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
7-day Average
Page 9 of 11
90-day Average
Monday September 7, 2015
Condos & Townhomes in
Neighborhood Detail
SAN FRANCISCO, CA 94107
Climb Real Estate Group, San Francisco 415.431.8888
Market Action Index The SAN FRANCISCO, 94107 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 61.17; indicating very little supply relative to the demand.
90-day Average
Buyers/Sellers Cutoff
Market Action Index per Quartile Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.
First/Top
Second/Upper
Third/Lower
Fourth/Bottom
Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.
Page 10 of 11
Monday September 7, 2015
Condos & Townhomes in
Neighborhood Detail
SAN FRANCISCO, CA 94107
Climb Real Estate Group, San Francisco 415.431.8888
Days on Market The properties have been on the market for an average of 41 days. Half of the listings have come newly on the market in the past 28 or so days.
7-day Average
90-day Average
Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top
Page 11 of 11
Second/Upper
Third/Lower
Monday September 7, 2015
Fourth/Bottom