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 Comments

Add yours →

  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. District 7 – DOM lower, volume about the same, prices 40% higher. Hmm. Some crash.

  3. 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.]

  4. I thought ’06 was higher anyway?

  5. 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.

  6. 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.]

  7. 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.]

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