Welcome to the your monthly analysis for April. Today we look at both list and selling price medians for both single-family homes and condos in March of this year, and we peek at early April's performance to predict what's coming. Hang on to your hats, readers, because this roller coaster is only going up.
Single-family homes
Like Sasquatch, these creatures are rarely sited these days, but appear enough (even in photos!) that none of us can quite believe they don't exist. Only 202 homes went on market in March of this year, down 2.4% from February but--more strikingly-- down 45% from March of 2012. No one should be surprised then that both the median list and the median sold prices are up, but did we expect them up over 30% year-over-year?
[Data via Redfin]
Condos
Condos too have been rare creatures on the MLS, up slightly in March compared to the previous month but still down 32.9% year-over-year. Here too we see expected gains in prices, though the observant reader will note list prices are down, while sold prices are up. This likely reflects the multiple bid incited by strategic under-pricing phenomenon we've seen of late.
[Data via Redfin]
April,so far, still climbing
[Data via Redfin]
Prices per square foot, listing prices, and sale-to-list ratios are all up for the first week of April, 2013, confirming (as if we needed it!) this spring season to be sweet for sellers. Buyers... not so much
· San Francisco Market Trends [Redfin].
· All monthly analysis coverage [Curbed SF]
· SF: Seller's Market for Shiz [Curbed SF]
· Pre-emptive Strikes [Curbed SF]