San Francisco Real Estate Market for June 2020
The real estate market for San Francisco remained robust last month, despite the gloom and doom predictions of some soothsayers. The following data for June illustrates the market strength of single-family properties in The City:
Average Listing Price: $2,233,385
Average Selling Price: $2,293,960 (Increase of $391,063 over May 2020, Increase of $103,724 over June 2019)
Average Days on the Market: 25
Average Selling Price: $2,293,960
Inventory of All Properties for sale as of July 5: 731
All Properties Pending as of July 5: 358
All Properties Sold in June: 353 (Increase of 131 over May)
Single Family Homes Sold in June: 163
- 52 sold below asking price
- 22 sold for asking price
- 89 sold over asking price
There is currently about 4 months worth of inventory available for sale.
It is clear from these statistics that the public continues to consider real estate a safe investment even in these uncertain times. Perhaps one reason for its popularity is the fact that of the four primary avenues of investments available along with stocks, savings accounts, and gold, it is the only one you can also live in!
Don’t hesitate to reach out to us here at Sun Pacific Mortgage for any of your investment needs or refinance/purchase financing needs, we’ll be happy to help.