December 2016 – Ho Ho Hum
Entering the heart of the holiday season, the number of sales and sales prices were mixed in the single family home and condominium/loft/TIC markets.Single family home median sales prices dipped in November to $1,372,500 from October’s all time high of $1,407,500, but are still up $110,000, or 8.7%, from November, 2015.In condominium/loft/TIC sales, median sold prices have been bobbing up and down between $1,000,000 and $1,150,000 for the past two years, and closed November at $1,044,500, just above the $1,023,500 where they started in January. Year-on-year, there is a 6.9%, or $78,000, decrease in the median sold price.Inventory levels in November took their typical seasonal nosedive, dropping to just 1.7 months of inventory for single family homes and 2.1 months for condo/loft/TICs.Finally, the median percent of list price received for single family homes was the lowest it’s been since January 2015: 106.8%. This could indicate that prices are peaking in the single family home market.sf-real-estate-market-report-kwsf-december-2016-pg-2 sf-real-estate-market-report-kwsf-december-2016-pg-3 sf-real-estate-market-report-kwsf-december-2016-pg-4