Climb's MARKET UPDATE

Climb's MARKET UPDATE SAN FRANCISCO, CA 94107 · Current Real Estate Market Conditions for Condos & Townhomes · Trends in Pricing · Current Levels of ...
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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

Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2014 Altos Research LLC

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