May 2019 Market Update

San Francisco Real Estate: Escrow Out Loud

In today’s episode of Escrow Out Loud, our San Francisco Real Estate podcast, we look at what the SF real estate market was like in May 2019.

[00:26] What trends should buyers be aware of in the condo and single family home markets? The numbers show that under a million dollars, condos are really the only available option, barring virtually uninhabitable single family homes. What about higher price ranges?

[02:58] We also see a continuation of a trend we’ve been talking about for a while. Number of sales year over year is down 10% for condos and 16% for single families, due to a very constricted supply.

[03:27] Prices for condos are down around 2-4% while single families are up 4-7%. The size of the market above the 1.5 million price point is a lot smaller than we might expect. Matt shares his thoughts on why we are seeing this in the market, by doing a bit of math around the income levels necessary to purchase a $1.5M home in SF.

[06:34] In future podcasts it will be interesting to compare a quarter or half a year with last year’s numbers and see if the same trends apply.

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