Pace of Home Sales in San Francisco Drops
The number of single-family homes and condos in contract to be sold across San Francisco has dropped around 15 percent over the past month, including a 6 percent drop in the seasonally adjusted pace of sales over the past two weeks. At the same time, the average asking price per square foot of the homes […]
Asking Rents in San Francisco Are Ticking Up, But…
As we outlined at the end of May, asking rents in San Francisco were actually trending up, having ticked up two months in a row. And having ticked up another 2 percent over the past month, the weighted average asking rent for an apartment in San Francisco is now back over $3,500 a month. That […]
Benchmark Mortgage Rate Poised to Inch Down
The average rate for a benchmark 30-year mortgage inched down 6 basis points (0.06 percentage points) over the past week to 6.89 percent, which is 7 basis points lower than at the same time last year, representing the first year-over-year drop in the 30-year rate in nearly 3 years, according to Freddie Mac’s mortgage rate […]
Asking Rents in Oakland Tick Up, Down Year-Over-Year
Having ticked back over $2,300 at the end of May, the average asking rent for an apartment in Oakland has since ticked up a percent to $2,360 a month but remains 7 percent lower than at the same time last year, 12 percent lower than prior to the pandemic having hit, and 21 percent below […]
Index Versus Reality for Another “Over Asking!” Sale
Purchased for $4.65 million in February of 2015, the 2,820-square-foot, four-bedroom home at 50 Buena Vista Terrace, a fully-remodeled single-family home which “transcends expectations,” in “the highly coveted” Buena Vista Heights neighborhood, returned to the market listed for $4.75 million this past May, a sale at which would have represented total appreciation of just 3....
Index for Bay Area Home Values Ticks Up, YOY Gain Slows
Having ticked up 2.6 percent in March, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area (i.e., “San Francisco,” which includes the East Bay, North Bay and Peninsula) ticked up another 2.0 percent in April, albeit with some seasonality still in play. As such, the index is now 4.7 […]
Inventory Levels Hold, Asking Prices Drop in San Francisco [UPDATED]
The net number of single-family homes and condos on the market in San Francisco was unchanged over the past week and remains 1 percent higher than at the same time last year and 25 percent higher than average for this time of the year. At the same time, the average asking price per square foot […]
Drop in Labor Force Driving Unemployment Rates Down
Having dropped by 5,400 in April, the net number of San Francisco residents with a job dropped inched back up by 400 in May to 534,100 but was still down by over 10,000 people on a year-over-year basis, with over 41,000 fewer employed residents in San Francisco than there were in February of 2020, prior […]
Classic Lake District TIC Trades Down
Purchased for $1.450 million in August of 2019, the updated but not “white-boxed,” two-bedroom, two-bath Lake District unit at 4504 California Street returned to the market priced at $1.395 million two months ago. Featuring a remodeled kitchen and baths with renovated period details throughout, top-floor flat in the six (6) unit Tenancy in Common (TIC) […]