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Weekend: Oct 24 – Oct 25, 2020

This weekend has lots of great things to do for free and on the cheap. From the “San Francisco Int’l Arts Festival” Live Open Air Shows (Oct. 24-25), to the SF Chinatown “Walkway Weekends” to Hauntingly Virtual Halloween Costume Contest. The events below will help you fill your calendar with fun!

View even more events here.

Weekend: Oct 17 – Oct 18, 2020

This weekend has lots of great things to do for free and on the cheap. From the Virtual Wildlife Conservation Expo, to the Women’s March: 8 Bay Area Sister Protests to the 20th Ave Pop-Up Vendor Event. The events below will help you fill your calendar with fun!

View even more events here.

Weekend: Oct 10 – Oct 11, 2020

This weekend has lots of great things to do for free and on the cheap. From the Virtual Wildlife Conservation Expo, to the de Young Museum’s Free Saturdays to West Coast Craft Market 2020: 50 Vendors Outdoors at Fort Mason. The events below will help you fill your calendar with fun!

View even more events here.

San Francisco: 7 Months After the Pandemic Hit | October 2020 Report

The table below compares Q3 statistics across 5 years. Since the dynamics of the SF house and condo markets have significantly diverged since the pandemic struck – the condo market has been weaker – we broke some of the 2020 stats out separately in the table, and then in some of the charts following.

The inventory of condo listings on the market has been soaring, and price reductions are heavily concentrated in the condo market. Hundreds are still selling each month and that number has been rebounding in the last couple months – but increases in supply continue to outpace demand. Within the condo market, the high-rise segment appears to be the weakest, almost certainly due to pandemic-related reasons.

Median sales prices can rise because of increases in fair market value – i.e. buyers are paying more money for the same home (supply and demand) – and/or because buyers are purchasing larger or more expensive houses. Affluent and very affluent buyers are an increasing percentage of the total market throughout the Bay Area. In San Francisco, the average size of houses sold in Q3 jumped almost 6% year over year.

Long-Term Trends in Median Sales Prices
through YTD 2020

Annual Percentage Changes in Median Sales Prices through YTD 2020

We have been getting many questions on annual percentages up and down in median sales prices, so we updated the following 2 charts. The 2020 YTD percentage will almost certainly change, one way or another, by the time full-year sales data is in.

Luxury Home Sales by Quarter

Q2 is typically the strongest selling season for luxury homes, but the pandemic changed that dynamic in 2020. Though the SF luxury segment recovered in Q3, in many other counties around the Bay, luxury home sales have soared to all-time highs.

Active inventory has been surging in recent months (first chart below), as has the months supply of inventory (second chart). As mentioned before, the supply of condos for sale is currently dominating SF inventory.

Even if supply is outpacing demand, more listings went into contract in September than in any month in the last 2 years.

But the number of price reductions – again heavily concentrated in the condo market – has jumped to its highest point in many years. In certain segments, sellers are now competing for buyers, instead of buyers competing for listings.

Median House & Condo Sales Price Trends by District

The 3 charts below are focused on the districts in which the greatest number of house or condo sales occur. The first 2 refer to house sales and the third to condo sales.

The post San Francisco: 7 Months After the Pandemic Hit | October 2020 Report first appeared on Paragon Specific.

San Francisco: 7 Months After the Pandemic Hit | October 2020 Report

The table below compares Q3 statistics across 5 years. Since the dynamics of the SF house and condo markets have significantly diverged since the pandemic struck – the condo market has been weaker – we broke some of the 2020 stats out separately in the table, and then in some of the charts following.

The inventory of condo listings on the market has been soaring, and price reductions are heavily concentrated in the condo market. Hundreds are still selling each month and that number has been rebounding in the last couple months – but increases in supply continue to outpace demand. Within the condo market, the high-rise segment appears to be the weakest, almost certainly due to pandemic-related reasons.

Median sales prices can rise because of increases in fair market value – i.e. buyers are paying more money for the same home (supply and demand) – and/or because buyers are purchasing larger or more expensive houses. Affluent and very affluent buyers are an increasing percentage of the total market throughout the Bay Area. In San Francisco, the average size of houses sold in Q3 jumped almost 6% year over year.

Long-Term Trends in Median Sales Prices
through YTD 2020

Annual Percentage Changes in Median Sales Prices through YTD 2020

We have been getting many questions on annual percentages up and down in median sales prices, so we updated the following 2 charts. The 2020 YTD percentage will almost certainly change, one way or another, by the time full-year sales data is in.

Luxury Home Sales by Quarter

Q2 is typically the strongest selling season for luxury homes, but the pandemic changed that dynamic in 2020. Though the SF luxury segment recovered in Q3, in many other counties around the Bay, luxury home sales have soared to all-time highs.

Active inventory has been surging in recent months (first chart below), as has the months supply of inventory (second chart). As mentioned before, the supply of condos for sale is currently dominating SF inventory.

Even if supply is outpacing demand, more listings went into contract in September than in any month in the last 2 years.

But the number of price reductions – again heavily concentrated in the condo market – has jumped to its highest point in many years. In certain segments, sellers are now competing for buyers, instead of buyers competing for listings.

Median House & Condo Sales Price Trends by District

The 3 charts below are focused on the districts in which the greatest number of house or condo sales occur. The first 2 refer to house sales and the third to condo sales.

The post San Francisco: 7 Months After the Pandemic Hit | October 2020 Report first appeared on Paragon Specific.

Weekend: Oct 3 – Oct 4, 2020

This weekend has lots of great things to do for free and on the cheap. From the 14th Annual SF Virtual Team Hope Walk & Fun Run, to the San Francisco Neon & Vintage Sign Festival to the West Coast Craft Market 2020: 50 Vendors Outdoors at Fort Mason. The events below will help you fill your calendar with fun!

View even more events here.

Weekend: Sep 26 – Sep 27, 2020

This weekend offers many things to do for free and on the cheap. From the San Francisco Neon & Vintage Sign Festival, to the Free National Parks Day: “National Public Lands Day” to SF Chinatown “Walkway Weekends”. The events below will help you fill your calendar with fun!

View even more events here.

Weekend: Sep 12 – Sep 13, 2020

This weekend has lots of great things to do for free and on the cheap. From SF’s “Tenderloin Museum” 5th Anniv. Outdoor Community Day, to 2020 Oakland Pride with Virtual Vendor Village to San Mateo’s Saturday Night Drive-In Movie Nights. The events below will help you fill your calendar with fun!

View even more events here.

San Francisco Real Estate – A Complex Market September 2020

Despite the terrible fires, SF had a very active month in listings going into contract in August, hitting a high point for the year and matching the high points of recent years. Surprisingly, the fires did not significantly impact the number of deals being made in most Bay Area counties during the last 2 weeks of the month – the exceptions being Santa Cruz, Sonoma, Monterey and Napa Counties, which saw declines of 13% to 33%.

The number of active listings on the SF market has risen dramatically over the last few months, outpacing the increase in listings going into contract. However, there are significant differences between the house and condo markets, which are discussed later in the report.

With the increase in inventory has come a big jump in the number of listings reducing asking price. In some market segments, sellers are now competing for buyers, instead of buyers competing for listings.

The next two charts illustrate how the house and condo markets have diverged since the pandemic hit. The condo market is much weaker, comparing demand to supply. However, within the condo market, different neighborhoods are seeing varying dynamics, and hundreds of condos are still selling each month. More detail follows later in the report.

Regarding the next chart, the lower the Months Supply of Inventory (MSI), the stronger the demand as compared to the supply of listings for sale. Much of the SF house market (blue columns) remains firmly in “seller’s market” territory, but the condo market’s supply (red columns) is outpacing buyer demand, especially in the higher price segments.

Below is a comparison of median house sales prices, sizes and dollar per square foot values around the Bay Area this past summer.

A review of year-over-year changes in the number of luxury home sales around the Bay Area this past summer. Some other counties have seen astounding increases. SF luxury house sales increased by a more modest percentage; SF luxury condo sales declined year over year.

The following 3 charts illustrate aspects of the SF HOUSE market: Median house sales price trends by bedroom count; sales volumes and median sales prices by Realtor district; and the number of active house listings by Realtor district with an analysis of months supply of inventory.

The following 3 charts illustrate aspects of the SF CONDO & CO-OP market: Median sales price trends by bedroom count; sales volumes and median sales prices by Realtor district; and the number of active listings by Realtor district with an analysis of months supply of inventory.

In last month’s report, we looked at era of construction for the city’s houses. The chart below does the same for the SF condo, co-op and TIC market.

The post San Francisco Real Estate – A Complex Market September 2020 first appeared on Paragon Specific.