The numbers speak for themselves. Thanks to “SFAR Advantage Online” for the goods:
NUMBER OF UNITS is the equivalent of number of sales/transactions. For condominiums, each unit is treated as a sale. For 2- to 4-unit buildings, the “building” is treated as a sale.
NUMBER SOLD is the number of properties in the market segment that closed escrow during the month.
NUMBER FOR SALE is the number of active properties on the market for one day or more during the month.
MEDIAN PRICE (SOLD) reflects the “middle” price point of a group of properties that have successfully closed escrow on a monthly basis, i.e. half sold for more and half sold for less than the median price. Tracking the movement of median prices over time provides a good indicator of the direction market forces are moving.
If the percentage change is positive between the two periods then there is upward pressure on prices in that market segment. If the percentage change is negative between the two periods then there is downward pressure on prices in that market segment.
AVERAGE DAYS ON MARKET (DOM) reflects how long it has been taking (on average) to draw an offer on a reasonably priced property exposed to the market. The AVERAGE DAYS ON MARKET is defined as: The average number of days it took all of the properties that went under contract during the period to accept a first position offer.
MONTH’S SUPPLY OF INVENTORY (MSI) is a measure of how long it would take, in months, to sell the existing inventory at the current sales rate for the specific neighborhood and property type. The MONTH’S SUPPLY OF INVENTORY is defined as: The number of active properties on the market for one day or more during the month, less the number of properties that have been withdrawn or expired, divided by the number of properties that have gone under contract during the month.
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Data provided by Terradatum. For additional information about market statistics and/or additional information about Terradatum’s products and services, please call Terradatum at 1-888-212-4793 Ext. 2 or send e-mail to [email protected].
–San Francisco Single Family Residence Inventory, Median, DOM, Listings Jan. ’08 v Jan. ’09 [SFAR, pdf]
–San Francisco Condominium Inventory, Median, DOM, Listings Jan. ’08 v Jan. ’09 [SFAR, pdf]
–San Francisco 2-4 Unit Inventory, Median, DOM, Listings Jan. ’08 v Jan. ’09 [SFAR, pdf]
Yeah, that’s sort of what I thought it would look like. The lone bright spot, D9, sort of surprises. Wonder where they were? They weren’t all in Bernal.
That said, January closings represents November and December sales. November and December SUCKED. It’s picked up since then. I think February/March will be interesting. Then after that, the “Spring bounce.” Or not!
I don’t think these numbers are right.
For one January isn’t even over yet! Furthermore sales are usually reported to the MLS with a couple of days lag, so I’d say we only have MLS data for the first three weeks of the year so far.
Also I compared it with a simple MLS search and the numbers don’t jive at all!
I think these are decembers figures??
Very good points Kristin and dothemath. There must have been a glitch. ;-) We’re still going with the fact the pdf link shows 1/08, 1/09, but have contacted the editor of SFAR Advantage Online to verify.
After I posted here I also sent over an email to Terradatum, and got this reply:
Hi Kristin,
There was a mistake in the labeling of the data. The data that appeared yesterday covered December 2008, not January 2009. This was our mistake and I had hoped that it could be corrected prior to publication. Our data also shows three single family houses sold Month-to-date in District 9 (as of yesterday) – this data (for the full month) will be included in next month’s Realtor Advantage.
Thank you for letting us know about the labeling error.
Some of those numbers don’t add up either. In the months of inventory, the math is so funky that it makes me doubt the rest of the numbers. There are 116 places listed in District 5 with 14 sales and only 2.4 months of supply?
Kristin,
Thanks. Since you are already in communication with them, can you do us a favor and send them a link to this thread. See Shelly’s concerns as well.
Thanks!
As Shelly indicates, many of the months inventory numbers don’t make sense. Look at D7 too.