March San Francisco Market Report

San Francisco Real Estate

March 2020 Report 

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There is a lot going on in the world right now and we won’t pretend to know how things will turn out or affect the local real estate market over the next few months. In the meantime, this report will look at the most recent data available, though the impact of the wild volatility in the financial markets and the unfolding situation with the coronavirus has yet to show up in reliable statistics. Typically, the spring selling season is the most active of the year. 

One positive for real estate is that mortgage interest rates hit a historic low in early March, as illustrated below, and rates play a huge role in housing affordability. 

As always, please don’t hesitate to let me know if I can be of assistance in any way. I wish you and yours safety and health in these challenging days.

Short-Term & Long-Term Trends 

in Median Home Sales Prices

Median Dollar per Square Foot Values 

Home Sales Breakdown

Listing Inventory vs. Sales since 2005

Trends in Overbidding Asking Price

Overbidding remains common and at high levels for house listings in particular, however part of this is due strategic under-pricing on the part of listing agents. The supply and demand dynamic for condos has been affected over the last few years by new-condo inventory coming on market. 

The Extreme Seasonality of Real Estate Markets

After the mid-winter doldrums, we would typically start seeing a huge jump in sales as the spring market gets underway. Remember that sales are about a month behind the market, i.e. sales in one month mostly reflect new listings and offers accepted in the previous month.

Home Sales & Values by San Francisco District

There are 70+ neighborhoods in ten Realtor districts in San Francisco - too many to cover in one newsletter. Below are some representative snapshots, but we also have trend data on every neighborhood in the city, which can be supplied upon request.