Third Quarter saw most Home Sales Activity in a few S.F. Neighborhoods
The San Francisco housing market had some areas that saw more real estate activity than others during the third quarter, as reported in the San Francisco Business Times.
Small condos didn’t fare as well as the same period last year, but most single-family home prices are increasing, according to real estate brokerage Compass’s data.
This year, three-bedroom houses experienced an 8% gain to $1.72 million.
And overbidding on single-family homes continued and the areas with the highest average sales price over the original list included the Sunset-Parkside-Golden Gate Heights area with an average 9% higher than list, Lake Shore-Ingleside-Merced Heights-Oceanview at 7.4% higher and Bayview-Excelsior-Crocker Amazon at 5.8% higher. This is compared to the citywide average for overbidding on homes being 2.4%.
As far as supply of inventory for single-family homes go, the Pacific Heights-Cow Hollow-Marina area had the most inventory with 5.5 months worth, trailed by the Noe, Eureka and Cole Valleys/Glen Park area with a supply of 3.5 months.
Throughout the city, the percentage of single-family listings accepting offers was at 50%, with 667 home sales in Q3 at a median sales price of $1.66 million. The higher the percent of listings accepting offers, the stronger the demand when compared with the supply of listings for sale, Carlisle said.
Regarding the most single-family listings in the city, Bayview-Excelsior-Crocker Amazon had the most with 293, followed by Noe, Eureka & Cole Valleys-Glen Park with 267 and then Sunset-Parkside-Golden Gate Heights with 209. The areas with the most sales in the third quarter were also Bayview-Excelsior-Crocker Amazon with 120, Noe, Eureka & Cole Valleys-Glen Park with 111 and Sunset-Parkside-Golden Gate Heights with 107.
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