San Francisco Real Estate Market Report – May 2021
Year-to-Date, Year-over-Year Changes
Comparing January – April 2021 with January – April 2020
- Median house sales price: +9, $1,706,000 in 2021 YTD
- Median house $/sq.ft. value: +3%
- Median 2-BR condo sales price: -7%, $1,280,000 in 2021 YTD
- Median condo $/sq.ft. value: -5%
- Total sales volume: +87%*
- Active listings at end of month: +24% (4-month average)
- Luxury house sales, $3,000,000+: +99%*
- Luxury condo & co-op sales, $2,000,000: +101%*
- Months supply of inventory, houses: -21% (less supply)
- Months supply of inventory, condos: +28% (more supply)
- House median days on market: down to 11 from 14 days
- Condo median days on market: up to 31 from 18 days
- House – % of sales over list price: flat at 71% – 72% of sales
- Condo – % of sales over list price: down to 38% from 56% of sales
- House – median SP to LP %: down to 107% from 109% of list price**
- Condo – median SP to LP %: to 100% from 101% of list price
* The pandemic and shelter-in-place had a large impact on April 2020 sales figures.
** “SP” = sales price, “LP” = list price – percentages over 100% indicate overbidding (on average transaction)
Activity reported to MLS, per Infosparks. Data from sources deemed reliable, but may contain errors and subject to revision. Late reported activity may change figures, though typically only slightly. All numbers approximate.
Statistics are generalities, essentially summaries of widely disparate data generated by dozens or hundreds of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers are approximate. Data from MLS, but not all listings or sales are reported to MLS.
Median Sales Price is that price at which half the properties sold for more and half for less. It may be affected by seasonality, “unusual” events, or changes in inventory and buying trends, as well as by changes in fair market value. The median sales price for an area will often conceal an enormous variety of sales prices in the underlying individual sales.
Dollar per Square Foot is based upon the home’s interior living space and does not include garages, unfinished attics and basements, rooms built without permit, patios, decks or yards (though all those can add value to a home). These figures are usually derived from appraisals or tax records, but are sometimes unreliable (especially for older homes) or unreported altogether. The calculation can only be made on those home sales that reported square footage.
Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, “bonus” rooms, additional parking, quality of location within the neighborhood, and so forth. How these statistics apply to any particular home is unknown without a specific comparative market analysis.
Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.
