MLS Statistics for the last two weeks, 2/20/09 – 3/06/09

MLS Statistics for the last two weeks, 2/20/09 – 3/06/09

Comparing the past 2 weeks with the 2-week period, 1/30 – 2/13/09:

The number of new listings coming on the market declined by 20%

The number accepting offers (going contingent sale) increased by 35%

Closed sales went up 75%

Properties coming back on market (i.e. deals falling through) fell by 8%

The number of price reductions—already at very high rates—increased by 18%

Expired and withdrawn listings are relatively stable

26% of house sales were bank-owned properties (REO); 10% of condo sales were REOs


PARAGON                  MLS Statistics for the last two weeks, 2/20/09 – 3/06/09

                          
Districts 1-10 (All SF)

Houses

Condos

TICs

2-4 Units

New Listings

131

140

60

30

Went Contingent

61
(10 were REOs)

65
(4 were REOs)

21

6

Went Pending

77

(14 were REOs)

45

(9 were REOs)

27

11

Sold

70

(18 were REOs)

50

(5 were REOs)

15

7

Back on Market

29

20

8

6

Price Reduction

92

134

49

40

Expired

26

20

5

13

Withdrawn

33

42

27

10

Comparing the past 2 weeks with the 2-week period, 1/30 – 2/13/09:

The number of new listings coming on the market declined by 20%

The number accepting offers (going contingent sale) increased by 35%

Closed sales went up 75%

Properties coming back on market (i.e. deals falling through) fell by 8%

The number of price reductions—already at very high rates—increased by 18%

Expired and withdrawn listings are relatively stable

26% of house sales were bank-owned properties (REO); 10% of condo sales were REOs

Houses

Condos

TICs

2-4 Units

Total # Active Listings
as of 3/6/09

569 – # is stable
(46 are REOs)

717 – # is up

254 – up

244 – up

Total # Sold for 30 days:
1/28/09 – 2/28/09

113 – up

80 – up

15 – stable

11 – stable

Median LP & Avg $/sq.ft.
for
Sold Homes 1/7/09 – 2/6/09

705k       $513/sq.ft.

714k       $632/sq.ft.

1.060m   $382/sq.ft.

Median LP & Avg $/sq.ft.
for Homes
Contingent & Pending

619k       $479/sq.ft.

640k       $623/sq.ft.

575k

999k       $380/sq.ft.


SF MLS Statistics by District

By District

Total # Active Homes

New SFD Condo/TIC Listings:
2 weeks

Went Contingent 2 wks

Went Pending 2wks

Back on Market
2 weeks

Total # Sales
2 weeks

Average $/sq.ft. Solds:
2009 YTD

Months Supply of Inventory

1

113

26

12

8

2

6

$432 (SFD)
$634 (Cdo)

5.6 months

2

96

29

12

16

4

8 (all SFD)

$514 (SFD)
$503 (Cdo)

6 months

3

59

15

8

15

4

8

$427 (SFD)

7.3 months

4

71

17

8

3

1

10

$554 (SFD)

5 months

5

223

59

28
(21 Cdo)

31
(22 Cdo)

8

26
(17 Cdo)

$713 (SFD)
$626 (Cdo)

5.6 months

6

110

26

9

8

2

11
(10 Cdo)

$564 (Cdo)

7.9 months

7

127

26

8 (3 SFD)

7

4

5

$927 (SFD)
$885 (Cdo)

15.8 months

8

195

36

8

9

4

16
(15 Cdo)

$777 (Cdo)

24.4 months

9

393

76

38
(29 Cdo)

22
(17 Cdo)

9

19
(18 Cdo)

$615 (SFD)
$591 (Cdo)

6.8 months

10

175

30

17
(13 SFD)

31

15

29
(26 SFD)
(14 REO)

$400 (SFD)

Inventory is increasing in all districts except District 10, but sales activity is also increasing.

Condo sales in District 9 in particular have increased significantly.

District 10 is plagued by a very high number of properties coming back on market (i.e. deals falling through after acceptance).

The months-supply-of-inventory (MSI) is the # of months it will take the current inventory of homes to sell at current sales rates. MSI = # of active homes divided by the projected # of properties going contingent lessproperties coming back-on-market in a 30 day period.

Median and average figures are necessarily generalities, which may reflect changes in buying trends (to smaller or less expensive homes) and may not reflect values or changes in value for specific properties and locations. All information from sources deemed reliable, but not guaranteed.