MARKET UPDATE | Q4 2013 SAN FRANCISCO Q4 total CLOSED SALES (SFH) 760 740 720 700 680 660 640 620 600 580 560 540
2009
A MESSAGE FROM OUR MANAGER: JEFFREY GIBSON The fourth quarter of 2013 produced another strong quarter for San Francisco real estate sales compared to the fourth quarter of 2012 according to the San Francisco Multiple Listing Service. Prices continued to increase throughout the City, with average sales prices for singlefamily homes (SFHs) up 7.6 percent and condominium sales prices up 11.2 percent. SFHs in particular continue to experience a shortage of inventory; the accompanying charts show a decline in the number of closed sales in five of the six districts. Condominium sales were up in Districts 6, 7, 8 and 9. District 9 was a hotspot in the fourth quarter, with an increase in sales of both condominiums and SFHs.
2010
2011
2012
2013
2009
2010
2011
2012
2013
San Francisco (Total)
649
615
665
736
679
District 4
84
70
84
110
92
District 5
82
92
92
107
92
District 6
25
10
7
19
13
Districts 7 and 8
32
32
38
57
45
District 9
67
66
58
51
69
Source: SFARMLS - October 1-December 31 each year.
Q4 Total CLOSED SALES (Condo) 900 800 700 600 500 400 300 200
Now that the Fed’s $85 billion bond buying has been reduced to $75 billion, it will be interesting to see how this will affect lending rates and whether that will have an influence on sales prices in this robust market.
SAN FRANCISCO Brokerage t: 415.901.1700 117 Greenwich Street San Francisco, CA 94111
100 0
2009
2010
2011
2009
2010
San Francisco (Total)
696
District 4
21
District 5
147
2012
2013
2011
2012
2013
554
595
796
839
14
8
15
14
96
102
131
121
District 6
70
52
59
84
100
Districts 7 and 8
201
170
183
222
226
District 9
184
162
182
265
299
Source: SFARMLS - October 1-December 31 each year.