Supply & demand statistics, median sales price trends, sales and values by city district, the luxury home market, and the dwindling effects of COVID-19
Generally speaking, market activity – as measured by the number of listings going into contract – continued to pick up rapidly in May, bouncing back from the steep plunge following the first shelter in place orders. However, activity in May, which is typically among the busiest selling months of the year, remained well below May 2019.
With the easing of shelter in place, as well as the market learning to adjust to new circumstances, it is expected the recovery will continue to surge closer to normal.
Median sales prices for both houses and condos dropped significantly in San Francisco in May, but those figures are based on a very low volume of closed sales in the month. An even bigger drop in higher-price home sales also put downward pressure on median prices. May sales and sales prices mostly reflect the huge impact of COVID-19 on the SF market in late March and April. Based on the large jump in accepted-offer activity in May (and especially for more expensive homes), coming months will constitute a better indicator of whether changes in fair market value are occurring.
Mortgage Rates Remain Relatively Flat
It is now cheaper to buy than it is to rent. Feel free to contact me for one of my preferred lenders.
Residence 1507 is a turnkey 3 bedroom, 2 bath corner residence with almost $150,000 in upgrades and improvements. This 1565 square foot corner home has big views of the San Francisco Bay, Mission Creek canal, and the city skyline. The grand scale entertaining space is perfect for family and social gatherings.
Built in 2016, Arden’s amenities are suited for today’s lifestyle and include: an outdoor entertaining area with dual BBQs, an adjoining lounge with kitchen, TV and pool table, a lap pool and spa, a fitness center, dual lobbies with lounges and more.
Live at The Brannan in South Beach. This thoughtfully designed 2 bedroom urban home has a unique floor plan with dual, separated master bedroom suites. The residence also features a formal foyer and a large living/dining area with sliding doors to a balconette. There’s new wide plank white oak hardwood flooring throughout. Included is one car deeded parking and additional storage.
Enjoy 5 star amenities that include: a full time lobby attendant, concierge services, a 75′ heated lap pool, a whirlpool spa, a 3,000 sq.ft. gym and an outdoor entertainment area.
Address: 111 Chestnut Street #601
2 Bedrooms / 2 Baths / 1 Parking / North Waterfront
Residence 601 at Parc Telegraph is an almost new, reimagined urban home. The Sellers redesigned the layouts of the kitchen, baths, and laundry, moved interior walls and upgraded the plumbing, electrical, and insulation. They installed custom cabinetry in living room, dining area, kitchen, and laundry
Designed with state of the art finishes, the upgrades, too many to name all, include:
Custom kitchen by Bentwood Luxury Kitchens
Miele kitchen appliances
Subzero Designer Series refrigerator-freezer
Fireplace by Avanti with pull-out cabinetry housing
In cabinet electrical lift system for flatscreen TV by Autron