🏡🌆 San Francisco Real Estate Market Update 📈🏙

Single Family Homes:

In September 2022, we had 367 new listings, and in 2023, it's up to 373, marking a 1.6% YoY increase. 📈 Last year, we had 189 pending homes, and this year, it's 190. 🏠 However, the number of sold listings decreased by 18.9%, with a median sales price of $1.65M, down 4.1%. 😯 The average sales price climbed to $2.045M, an 8.7% increase. 🚀

🗓️ Market Trends:

Homes are still selling above asking prices, and the days on market increased slightly to 30. Inventory decreased by 5.4%, but we're still in a hot seller's market. 🔥 If you enjoy this update, don't forget to subscribe and like the video. Got questions? Drop them in the comments or reach out anytime.

Condos and Co-ops:

For condos in San Francisco, we've seen a 2.6% decrease in new listings. Pending sales are down by 5%, and the number of sold listings decreased by 21%. Median sales prices dropped by 9.5%, but average prices increased by 1.2%. 🏙️

The months of inventory rose to 5.1, indicating we're now in a buyer's market for condos. If the interest rates are friendly to you, it might be a great time to make your move!

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RISE Homes is a leading San Francisco Bay Area real estate team. We specialize in residential real estate sales in all six of the SF Bay Area counties; San Francisco, San Mateo, Santa Clara, Alameda, Contra Costa, and Marin. We have agents and operations staff who specialize and are very familiar (most of us are SF Bay Area natives) with their respective geographic territory. Our primary focus is on helping our clients navigate the highly competitive San Francisco real estate market, and in the process, conducting ourselves with integrity and transparency while always focusing on continuous improvement.

Joe Polyak is the Founder of RISE Homes. Joe was born and raised in San Francisco, and currently lives in San Mateo, CA with his wife Valerie, daughter Autumn, their two dogs, Bonnie the pitbull-mutt and Daisy the pug, and their turtle, Donatello. Joe has been in real estate since 2010, and is a top 1% agent in the San Francisco Bay Area, with over $80,000,000 per year in sales volume. Joe built his business by specializing in probate/trust sales and working with and educating first time home buyers.