From Garrett:
| Single-Family Homes | ||
| District 1 | Dec-06 | Dec-07 |
| Number of Sales | 18 | 14 |
| Median Selling Price | 971,250 | 1,215,000 |
| Average DOM | 75 | 46 |
| District 2 | Dec-06 | Dec-07 |
| Number of Sales | 38 | 31 |
| Median Selling Price | 770,500 | 795,000 |
| Average DOM | 38 | 38 |
| District 3 | Dec-06 | Dec-07 |
| Number of Sales | 16 | 13 |
| Median Selling Price | 754,700 | 605,000 |
| Average DOM | 41 | 58 |
| District 4 | Dec-06 | Dec-07 |
| Number of Sales | 36 | 26 |
| Median Selling Price | 882,500 | 931,000 |
| Average DOM | 37 | 49 |
| District 5 | Dec-06 | Dec-07 |
| Number of Sales | 26 | 13 |
| Median Selling Price | 1,090,000 | 1,450,000 |
| Average DOM | 55 | 60 |
| District 6 | Dec-06 | Dec-07 |
| Number of Sales | 3 | 2 |
| Median Selling Price | 1,260,000 | 1,299,500 |
| Average DOM | 91 | 24 |
| District 7 | Dec-06 | Dec-07 |
| Number of Sales | 3 | 6 |
| Median Selling Price | 1,850,000 | 4,005,000 |
| Average DOM | 46 | 63 |
| District 8 | Dec-06 | Dec-07 |
| Number of Sales | 1 | 1 |
| Median Selling Price | 2,250,000 | 1,950,000 |
| Average DOM | 67 | 43 |
| District 9 | Dec-06 | Dec-07 |
| Number of Sales | 32 | 12 |
| Median Selling Price | 870,000 | 824,000 |
| Average DOM | 47 | 54 |
| District 10 | Dec-06 | Dec-07 |
| Number of Sales | 42 | 37 |
| Median Selling Price | 682,500 | 625,000 |
| Average DOM | 49 | 75 |
Data Provided by SFAR
District 7 continues to defy gravity. Those lucky homeowners! “40 Year Old Renter” lives in District 7 and has been renting for 13 years there. OUch.
[Editor’s note: As much as we’d like to keep the dialogue open and free on TFS, we’re going to start putting a crack down on the Koval bashing. It has always been our policy to attack the issues, but refrain from personal attacks, and exceptions should not be made here. If this bothers you, harden the f*** up.]
You need to give a whole month in order to get valid MLS readings. Not all agents and their assistants, for whatever reasons, update in a timely fashion. Five is already up to 15. Wonder if two agents saw this blog and finally got off their behinds?
Yea, this is one open minded blog..no way. the editor here is constantly scolding the boys and girls to talking dirty or god forbid, maybe actually criticizing someone.
And this is the site that wasted so much time on picking the prettiest realtor. He’s really reaching for new material. Must not be selling enough.
[Editor’s note: Selling plenty, but thanks for assuming otherwise.]
jamielynn is awesome
I like this blog b/c there’s freedom of speech, and posts aren’t being deleted it it doesn’t agree with the blogmaster’s agenda.
I can safely say that District 7 is HOT! Both the 1.3 mil, and 2.3 mil listings (cheapest two) in District 7 are now in contract, and the cheapest SFH is $2.6 mil.
This nice MGB condo for $1.1 mil also got in contract after two open houses.
http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N462655348,-N216268,-N,-A,-N11795835
$400K over asking in Noe to $1,057/sqft? damn.
http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N818332573,-N215562,-N,-A,-N11302989
This place in contract after 2 weeks, and REJECTED a $1.35 mil pre-emptive offer?
http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N516250924,-N216302,-N,-A,-N11796837
list goes on and on. As I thought, once people get their bonuses, the money burns a hole in your pocket, you realize what’s the point of working and making money, and you go out and spend spend spend. 10-yr yield at 3.69% and going lower, and your investments in the stock market are getting CRUSHED!
I think SF prices go up another 5-10% this year.
i have to agree editor. let it roll. nobody is getting hurt. i predict in 1 hear that koval finds someone foolish enough to hire him and ss disappears.
nobody will miss it.
district 9 looks like it’s finally showing signs of fatigue.
the stock market is proving those renters wrong. stocks always go up!
;)
[Editor’s note: You know what, you’re right. I’m going to create a comment policy, which I’ll post to the site. The essence will be, “comments are no longer moderated, so prepare to defend yourself.” I’ll try it out for a while and see how it goes.]
Adam has to post some wins, b/c the sponsors will drop him like a hot potato for not recognizing the truth that SF continues to be very strong if he doesn’t.
Also, many folks have had their posts deleted, and to not create a revolt, he does highlight some wins (but always with a loss). But not to worry, he will soon highlight Bayview, or over priced SOMA condos soon.
We all know Adam is turning 40 this year, and still rents, which is kinda sad. It’s like Murphy’s law, where he rents in District 7, with ever increasing rents, and prices are rising the most in District 7 to boot.
OMG. I’m so happy. the editor finally agreed to maybe swallow hard and ah..listen..once in a while. No one is hurting anyone. Open dialogue without censorship is the best. We all learn more that way.
Ok, I gotta run. Have to get Britney back to rehab.
[Editor’s note: You’re welcome.]
i like no comment monitoring; that’s how we’ve been livin’ over at SanFranciscoSchtuff, but nobody seems to comment :(
“i have to agree editor. let it roll. nobody is getting hurt. i predict in 1 hear that koval finds someone foolish enough to hire him and ss disappears.
nobody will miss it.”
What were we talking about again? Sales numbers? Home prices? Oh, right – some guy with a contrarian view that some folks here don’t like…
A quick jaunt over to Alexa shows that SS drives a lot more traffic than TFS. Why is that? What does SS have that TFS doesn’t – apart from more page views, more healthy, diverse discussions, and less ad hominem attacks?
TFS really ought to be rechristened “wehateadamkoval.com” (Check it out, Alex — the domain is probably still available if James hasn’t already snatched it up.)
I’ve got no dog in this race and don’t know any of the principals. Ironically, it was SS’s link that brought me here. This site actually hosted some pretty interesting and informative dialog about SF RE last week for a change. Hoo-ray. Bring that back – discuss why SF’s sales numbers are in the tank nearly universally across town per the origin of this post rather than acting like a bunch of snotty 13 yr old girls.
I’m not big on the idea of censoring — but if I come here to get RE info and instead get a bunch of crap about *one*f’ing*guy* all the time and for no apparent reason (looking at you, Landlordlarry), then I’m going to have to rethink my visits – and doing business with any of you. If you can’t act like pros, then try to at least act like adults.
[Editor’s note: Well said Mikey. Regarding Alexa…this site is but a fetus.]
MIkey..
So youre not “big” on the idea of censoring..ah..except for maybe certain people?
get a grip, honey. All opinions outta be allowed here..if you get so bent out of shape over someones opinion, anonymous or not..then maybe you outta stay home.
Mikey – A couple things:
1) SS started much earlier than this site.
2) SS is the 40 Year Old Renter’s FULL TIME JOB! He does nothing else but post and delete commentary. He couldn’t make it in Investment Banking and got fired during the last down turn. Do you know how sad it is to rent at 40, and just blog?
That’s about it. :) Now about those crazy price increases in SF, in particular Noe Valley and the North End District 7!
Jamielynn:
No, I’m not big on censoring. Yes – all opinions ought to be allowed. However, there is a difference between censoring and asking people to stick to the topic at hand without the petty badgering of one guy not remotely connected to this site. If you don’t know the difference, you should.
On the other hand, this isn’t a first amendment issue. If a post doesn’t provide value or just spews, I don’t care if I ever see it. It’s the blogger’s prerogative to act on that or not. We’ll see how it goes here…
Nate:
“SS is the 40 Year Old Renter’s FULL TIME JOB!”
…and it shows. Discussions are engaging and allow differing points of view (even if the site itself sometimes focuses on what is an apparently increasing bearish market for areas of SF RE) yet still manages to be civil. And its not the only other blog that is able to accomplish this. So WTF with this one?
Additionally, the whole “40 Year Old Renter” schtick is tiresome in a city where 2/3 of its residents rent. As has been pointed out in the past, renters become buyers. That they are doing so in smaller numbers now should be of more concern to you rather than whether or not some blogger deleted your post. And in case you haven’t noticed, there will likely be scores more of fired investment bankers in the coming months and they won’t be buying in D7, either.
So getting back on track, and I wish you all would just drop it, socketsite is good for certain things, TFS is good for others. But really, why the constant comparisons? They’re two totally different things. One as someone stated is a full time job, and this is obviously Alex’s hobby, and for a hobby he does a pretty darn good job of keeping all you guys in check, and putting out some good information. I think Alex has actually been at it longer than anybody if you count his sfnewsletter, which I read weekly and love. And I recall “we’re going to start putting a crack down on the Koval bashing”. I can’t blame him for giving up on managing the comments. I write a blog that will remain nameless and it is a full time thing to watch and monitor all the people.
Getting back on track, I tend to think that the numbers for San Francisco are again not that bleak, and I rent. I think I was reading another blog, not sure which at this point, and someone mentioned that the median is not the big picture, but the volume. Given the media headlines regarding the mortgage stuff and the holidays that just came and went, those numbers are not that bad at all. I’m more concerned with the potential coming recession and how that will play into the equation.
As for these stats it doesnt at all point to a market that has crashed. Honestly, what did you all expect after 5 plus years of astronomical appreciation? you couldn’t have thought it would keep going, could you?
Recession is good for the housing market. Remember what happened in 2002-03? Housing went ballistic. Why? B/c stocks were tanking, and money was flowing back into real estate. Rates started plummetting as they are now.
Housing is the best recession and terrorist hedge ever.
Nate
ah mikey, or adam should i say, you are a total douchebag!
go away!
this is a real website to discuss owner topics
not bitter renters mastabatory dreams of some day owning property they will never afford
[Editor’s note: You guys testing me?]
Wow James, that was pretty classy.
I don’t want to interrupt your guys special moment, but I did want to point out to NateDog that 2002-2003 was not a recession. You need two quarters in a row of GDP contraction before you got a real recession.
And of course there are some fundamental differences in the housing environment between then and now. Suffice it to say that it’s extremely unlikely any coming recession will be bailed out by homeowners this time around, as credit is nowhere near as free and easy to come by as it was in 2002.
I’m going to take a wild guess that you weren’t an adult the last time we had a real recession (88-92). And the last severe recession (in the early 80’s) you probably have no recollection of at all. Let me tell you, that one was scary. And the gathering clouds look a lot more like the early 80’s then they do the uber mild 2002-2003 dip.
i’d respect adam more if he used his real name when he tried to defend his housing forum.
mission, you are spot on. 91 was ugly. i was lucky to get a job at all right after graduating.
SS aint all that balanced. Just about everyone who posts peppers his or her comments with realtor hate. Whether or not they are making valid points they always throw in a few zingers here and there. Secondly, the site is unbalanced toward a few armchair economists with very, very bleak outlooks these days. Third, many who post regularly — not the same as those who post sparingly — have already taken it as a given that SF is tanking. This is despite constant evidence to the contrary, even sometimes offered up by the editor. I don’t know how many times I’ve seen false claims about District 2 tanking on there. But these guys don’t care. They just want to get a rise out of people. And last, some of these people actually cackle at the misfortunes of others, repeatedly. Like the total fucking dickheads they are. Other than that, I love it. It is a fun read. Frustrating, but addictive.
Kenny – SS does have a bunch of very bitter people who missed out on great fortune. I mean, if you were 40 years old and still renting, while Pacific Heights went up astronomically in the 17-18 years you were renting, you may go stark crazy! So, i am impressed Adam has been able to hold it together.
I’m sure it pains Adam and others that District 7 and other districts in SF continue to do very well. That’s punishment alone for them :)
kenny,
take my advice. delete your bookmark for socketsucks in your browser. do not go back there, ever! you’re never going to find a buyer or seller over there anyways. they are all posers that can barely afford to rent anything, let alone buy.
you won’t miss the site after about 3 days. i don’t!
;)
Good luck my friends. The coming years are going to be tough on real estate bulls and bears alike… even in San Francisco.
I quit S.S. today and I’m never going back. They’ll miss me. Wish I could say the same.
My problem is less with the posters who honestly believe that the whole SF market is going to crash by 20 to 30 percent than the editor. Under a guise of purported balance look at how that guy frames every lede. Look at what he picks and chooses to delete or not. It’s about as balanced as Amy Winehouse’s last few live shows. I could care less if he rents or how old he is. Just don’t kid a kidder.
congrats!!!