Facebook
X
Pinterest
Copy Link
What the heck is going on in the Real Estate Market?
The Appraiser’s Appraisal
San Francisco (Sunset and Outer Sunset)
Sold past 1-6 months (n=186) median (med) $1,500,000 Days on Market (DOM)=14
Sold past 7-12 months (n=212) med $1,700,000 DOM=12
This suggests a primary (year) change of -11.765%
Sold past 1-3 months (n=84) med $1,475,000 DOM=15
Sold past 4-6 months (n=102) med $1,580,000 DOM=13
This suggests a secondary (quarter to quarter) change of -6.646%.
There are 39 current active listings ranging from $890,000 to $2,499,000 with median DOM at 49 days. Range 1 – 478 days.
There are 32 pending listings (in contract) ranging from $213,389 to $2,495,000 with median DOM at 17 days. Range 1 – 106 days.
So, what’s going on? There are no prior observations for this market. We have developed the current picture for future reference. Currently, there is both primary and secondary decreases. Contrast this with Discovery Bay which has a primary stable trend and a secondary decrease. It may be that Discovery Bay is not the best market to use as the outer boundary of our circle. Discovery Bay much like the City of Livermore, appears to have a fairly resilient demand. Come Monday, we will look at an alternative to Discovery Bay. Perhaps Antioch. We may also look at an alternative center market. This again, is an attempt to build a predictive model. It may or may not work… In about a month or so, we will look at these markets again and see if we can make some tentative predictions about what is going to happen in the immediate East Bay. At this point all we can say is that the effects of interest rate increases have reached from our center point (SF) all the way out to the Eastern edge of Contra Costa County.
Want to know what’s going on in a different market or sub-market? Just ask!
Appraiser legal stuff:
CA OREA License No. AR041451 – JamesForquer.com
Data is from EBRDMLS and includes the City of San Francisco North of Sloat Blvd, South of Lincoln Way, East of The Great Highway, and West of Hwy 1, all MLS residential listings, effective as of 12/16/2022
#realestate
