Condo sales in SF

By district from Garrett

Condominiums
District 1 Sep-06 Sep-07
Number of Sales 5 7
Median Selling Price 575,000 700,000
Average DOM 74 50
District 2 Sep-06 Sep-07
Number of Sales 1 2
Median Selling Price 949,000 703,500
Average DOM 39 57
District 3 Sep-06 Sep-07
Number of Sales 3 3
Median Selling Price 569,000 517,000
Average DOM 61 40
District 4 Sep-06 Sep-07
Number of Sales 5 3
Median Selling Price 580,000 411,000
Average DOM 44 38
District 5 Sep-06 Sep-07
Number of Sales 38 21
Median Selling Price 775,775 936,000
Average DOM 47 27
District 6 Sep-06 Sep-07
Number of Sales 14 16
Median Selling Price 667,000 752,500
Average DOM 50 45
District 7 Sep-06 Sep-07
Number of Sales 20 19
Median Selling Price 907,500 1,261,000
Average DOM 38 33
District 8 Sep-06 Sep-07
Number of Sales 19 16
Median Selling Price 625,000 612,500
Average DOM 53 38
District 9 Sep-06 Sep-07
Number of Sales 50 46
Median Selling Price 758,750 732,000
Average DOM 60 55
District 10 Sep-06 Sep-07
Number of Sales 5 3
Median Selling Price 514,000 480,000
Average DOM 76 51

7 thoughts on “Condo sales in SF”

  1. Wow. Those numbers are vastly different than what I would have expected especially considering that September’s close of sales contained August’s problems.

  2. This is really interesting. San Francisco’s high end market is holding incredibly well, and is still increasing $$ wise. Los Angeles’s however – and specifically Santa Monica’s — is starting to have trouble. A lot of the high end stuff has been rolling back to ’06 pricing. Is that a precursor for the SF market, or will we ride through the next couple years unscathed?

    [Editor's note: Good question. We don't think anyone has the answer to that.]

  3. Kenny – That is exactlyt he confusion. I finally see people now saying 2006 was the high, and not 2005. We’re up 25% from 2005. But, depending on where you go, 2007 is the new high, or 2006 is the high.

  4. Some people can’t see their way out of a paper bag. Trend lines folks, and common sense. Sales volume is down. DOM is meaningless with delist/delist (s/b days of manipulation). The big story is what would the 15% of houses that didn’t sell this year vs last have sold for if the owner got real. If volume is up and median is up then you got a stronger case, but when your entire median imcrease of 2.6% is dependent almost entirely on marina condos shooting up a frankly ridiculous 40%, then you start to get a more accurate picture: only homes in the upper reaches are selling well and with ridiculous increases, so median just went up.

    If you have 100 houses, 50 sell for $700k and 50 sell for $900k then your median is 800k. Let’s say next year the market drops put of the market for the $700k houses and only 35 sell for $600k, the rest don’t sell at all. Guess what happpens? A bunch of people go post on TFS about how fricking healthy the market is and IN YOUR FACE to the bears because even though volume is down 15% the median has gone up to $900k so buy now or you’ll be locked out fo-evah. This despite the fact that $14 million dollars just evaporated from the market.

    Want to wake up to reality? 6 out of 10 districts saw a decline in median. I guarantee that wasn’t true last year. In fact I bet that last year that number was zero.

    The trendlines are what matter here, and they pretty clearly to a bunch of drunks in the bedroom who don’t realize everyone downstairs has left and the party is over.

    Enjoy your beer.

    [Editor's note: No predictions have ever been made from theFrontSteps. Only pointing out the current state of affairs. We leave predicting to you.]

  5. Yes, and to be clear I wasn’t accusing TFS of making predictions. My ire was directed primarily at HQ, but also boomtime, not because he posted here but because I know he was thinking it. :)

    I love the site BTW, and the people on it. Get some coffee in me in the morning and I’ll rage against the machine, but good people all around, you know?

    [Editor's note: Good coffee, we hope. Glad you like the site. Tell some friends.]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s