From Garrett. Thanks Garrett!!!
| 2-4 Units | ||
| District 1 | Sep-06 | Sep-07 |
| Number of Sales | 8 | 6 |
| Median Selling Price | 1,044,000 | 1,252,500 |
| Average DOM | 43 | 50 |
| District 2 | Sep-06 | Sep-07 |
| Number of Sales | 11 | 2 |
| Median Selling Price | 1,050,000 | 1,482,500 |
| Average DOM | 30 | 90 |
| District 3 | Sep-06 | Sep-07 |
| Number of Sales | 0 | 0 |
| Median Selling Price | ||
| Average DOM | ||
| District 4 | Sep-06 | Sep-07 |
| Number of Sales | 0 | 1 |
| Median Selling Price | 1,500,000 | |
| Average DOM | 131 | |
| District 5 | Sep-06 | Sep-07 |
| Number of Sales | 10 | 5 |
| Median Selling Price | 1,367,500 | 1,625,000 |
| Average DOM | 44 | 45 |
| District 6 | Sep-06 | Sep-07 |
| Number of Sales | 8 | 5 |
| Median Selling Price | 1,214,500 | 1,199,000 |
| Average DOM | 76 | 31 |
| District 7 | Sep-06 | Sep-07 |
| Number of Sales | 5 | 2 |
| Median Selling Price | 1,830,000 | 2,163,500 |
| Average DOM | 52 | 20 |
| District 8 | Sep-06 | Sep-07 |
| Number of Sales | 3 | 1 |
| Median Selling Price | 1,385,000 | 2,900,000 |
| Average DOM | 51 | 25 |
| District 9 | Sep-06 | Sep-07 |
| Number of Sales | 9 | 8 |
| Median Selling Price | 1,100,000 | 1,117,500 |
| Average DOM | 61 | 27 |
| District 10 | Sep-06 | Sep-07 |
| Number of Sales | 0 | 0 |
| Median Selling Price | ||
| Average DOM |
Data provided by the San Francisco Association of Realtors
that’s really interesting. what do you make of it? the asp is higher and even dom is lower but the number of units lower.
It tells us a lot of the same we’ve been hearing and seeing. “Volume down, Prices up.” The fact remains, inventory, at all levels, is still too low. Demand is still there. Investors are still snatching up multi-unit properties, and rents will continue to rise. Our market is doing fine, and the right properties still sell and usually sell quickly, simply because there is not enough to go around for everyone. We’ll see what the future holds. Still lots of negative news floating around out there. Not sure how much longer SF can defy logic, but so far it is.
I don’t know but I have a theory. During spring of ’06 a law went into effect that severely limited homeowners ability to condo convert. Two to 4-unit properties with one or more protected tenants became harder to deal with in spring of ’06. By September of ’06 they were regarded as a pain in the ass. By September of ’07, after more than a few test cases, they became anathema. Nowadays only vacant 2-4 units are enticing, they are few and far between, and they cost a premium.