November’s Real Estate Market in San Francisco
Once again, the numbers continue to astound us. While we think they can’t get much higher, they do! Let’s look at the statistics for December verses November:
- Average sales price single family: $1,995,413 (increase over October $66,890) Average days on market: 24
- Average sales price for condo: $1,330,776 (decrease over October $115,762) Average days on market: 33
- Inventory of properties for sale: single family-154, condo-389
- All properties sold in November: 498
- Out of 197 single family homes sold in November: 31 sold below asking price; 14 for asking price;152 sold for over asking price.
There continues to be a demand for homes of all sizes in The City and inventory remains at less than 1.5, meaning that if there was not another home listed, it would take just about one and half months for all the current homes on the market to sell. Six months of inventory would turn this Seller’s market to a Buyer’s market.
Wanting to get into the market or to move up to larger quarters, but unable to qualify for a conventional mortgage, Sun Pacific Mortgage is here to help. We are a Hard Money lender with over 3 decades in the business. We have helped thousands of prospective buyers get into a home when they thought all hope was lost. Call us at 707-523-2099 to see if we can help get you that loan you are looking for!