San Francisco Real Estate Market in October
A recent report on the specifics of the real estate market in San Francisco revealed a slight decrease in the average sales price of single-family homes. This could be beneficial to home buyers or investors interested in buying in this area.
October’s home sales price decreased $163,132 compared to September, while September’s sales price had shown an increase of $251,312 over the previous month. This kept the average sales price at a very healthy $1,928,523. The average days on the market for October was 22 for single-family dwellings, while September’s was 28.
There were 546 total properties sold in San Francisco in October, of which 244 were single-family homes. 200 of these homes sold above asking price and 12 sold below asking price.
As of November 8th, there were 1102 properties for sale in San Francisco. Of these, 307 were single-family, 612 were condos, 147 were 2-4 units, and 36 were 5+ units.
Inventory of all properties for sale in San Francisco went from 1174 on October 4th to 1102 on November 8th. We are still in a Seller’s market with only a 2 months’ worth of inventory.
Obviously, real estate remains very healthy in the San Francisco market. If you need help with refinancing or buying new properties, but circumstances prevent you from obtaining a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099. We have helped thousands get the financing they need for over 3 decades.
Visit our website at SunPacificMortgage.com for more info.