Introduction

Welcome to our comprehensive analysis of the San Francisco real estate market for August 2023. This report offers crucial insights into the latest trends and statistics, benefiting both buyers and sellers.

Highlights: Quick Snapshot

• Single-family Homes: Median Sales Price +8.6% MoM, -1.6% YoY
• Condos: Median Sales Price -3.43% MoM, +9.5% YoY

Key Statistics for Single-family Homes in San Francisco

• Home Sales: 137 in August 2023, compared to 151 in July 2023 (MoM: -9.3%, YoY: -25.1%)
• Median Sales Price: $1,575,000 (MoM: +8.6%, YoY: -1.6%)
• Average Sales Price: $1,951,150 (MoM: +6.6%, YoY: +0.6%)
• Sales Price/List Price (SP/LP): 105.0% (MoM: -0.2%, YoY: -1.4%)
• Days on Market: 31 days (MoM: +24%, YoY: +24%)

Key Statistics for Condos, Lofts, Townhomes, and TICs

• Condo Sales: 144 in August 2023, compared to 160 in July 2023 (MoM: -10%, YoY: -37.7%)
• Median Sales Price: $1,105,750 (MoM: -3.43%, YoY: +9.5%)
• Average Sales Price: $1,229,808 (MoM: +0.6%, YoY: +9%)
• Sales Price/List Price (SP/LP): 98.6% (MoM: -0.8%, YoY: -1.8%)
• Days on Market: 59 days (MoM: +11.3%, YoY: +15.7%)

Current Trends in San Francisco's Real Estate Market

August 2023 presented a mixed bag in the San Francisco real estate market. While some statistics indicated rising prices, the sales volume and days on the market showed variations.

For Single-family Homes:

The market appears to be cooling, as evidenced by a 24% MoM increase in days on market to 31 and a -25.1% YoY decrease in sales volume.

For Condos:

Condo sales have decelerated, with properties lingering on the market for an average of 59 days and a -37.7% YoY decline in sales volume.

Implications for Buyers and Sellers

For Buyers:

Longer days on the market offer more room for negotiation, particularly for condos.

For Sellers:

An increase in days on the market suggests the need for a reassessment of pricing and presentation strategies, especially for single-family homes.

Call to Action

A personalized consultation with one of our experts can provide valuable insights. Contact us today to get a San Francisco Real Estate Market Analysis and make informed decisions in this nuanced market.

Additional Resources

• Full Online Report
• Complete Monthly Report

Credits

Information based on the 'The Real Estate Report of Local Market Trends for San Francisco' by Robb Fleischer, Broker/Officer for AMSI & Novo Real Estate Services.