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What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
San Francisco (Sunset & Outer Sunset)
Sold past 1-6 months (n=156) median (med) $1,460,000 Days on Market (DOM)=15
Sold past 7-12 months (n=227) med $1,700,000 DOM=12
This suggests a primary (yearly) change of -14.118%.
Sold past 1-3 months (n=58) med $1,420,000 DOM=19
Sold past 4-6 months (n=98) med $1,480,000 DOM=14
This suggests a secondary (quarter to quarter) change of -4.054%.
There are 26 current active listings ranging from $795,000 to $3,695,000 with median DOM at 25 days. Range 1–514 days.
There are 29 pending listings (in contract) ranging from $213,389 to $2,399,000 with median DOM at 14 Days. Range 1-122 days.
12/16 review: yearly change -11.765%; quarter-to-quarter change -6.646%.
So, what’s going on? This actually looks very similar to some of our immediate East Bay markets. It is close to the recent numbers from the Montclair area in Oakland. We see that the yearly trend has deteriorated, and the quarter-to-quarter trend has moderated. If our hypothesized predictive model holds true, we would expect to see such similar patterns moving out from this central area. Here again, I am not seeing a specific pattern which leads me to believe we have identified any predictive elements. We may have to review 2 areas on the same date to determine if there are any useable correlations. We will keep looking.
Have any other real estate questions? Want to know what is going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
CA Office of Real Estate Appraisers License No. AR041451 – JamesForquer.com jamesforquer@comcast.net Data is from EBRDMLS and includes the City of San Francisco North of Sloat Blvd, South of Lincoln Way, East of The Great Hwy and West of Hwy 1, all MLS residential listings, effective as of 02/17/2023
Listing/Sales services provided through Coldwell Banker – Montclair 510-339-6134 Jim Forquer – CA Department of Real Estate License No. 01205407 #realestate
