NOVEMBER IS HERE. HAPPY THANKSGIVING!
It's November and the Holidays will be here in just a few short weeks. If you're like me, you are ready for a calm, peaceful year end and especially a calmer stock market now that the historically tumultuous month of October is over.
I wish everyone a Happy Thanksgiving and for those clients that purchased new homes this year, I wish you a wonderful first Thanksgiving with family and friends in your new home!
My team and I have put together some interesting statistics on current and historic real estate market trends and for some fun local events to choose from, click our ‘Events’ tab on our main menu. As always, please call if I can help you or friends with your real estate needs!
San Francisco Market Snapshot
By all accounts, the first three quarters of 2018 proved to be very strong with soaring appreciation in the Single Family Home segment and strong appreciation in the Condo market. As we enter the Fourth Quarter, we are beginning to see signs of the market softening. Although seasonal slowing is typical, that coupled with the volatility in the stock market and the Federal Reserve's third rate hike (with more likely to follow), there is concern about housing affordability, going forward. Hopefully, our market will remain somewhat insulated from the economic factors that often dictate the condition of other U.S. markets.
The average sale price of condos through Q3 is up +2.6 from 2017, while average single family home prices up a whopping + 13.1%! It is likely, Q4 numbers will not be quite as strong and possibly flat.
San Francisco Real Estate Market Trends**
For more information and San Francisco real estate statistics, please click the link below for Coldwell Banker's Area Report.**
* Sources: SFAR Market Report Aug 2018, NAR Market Overview 9/21/08; Bankrate.com Sep 26, 2018
The statistics presented are compiled based on figures and data generated by IDC Global and may not be completely accurate. All information should be independently verified for accuracy.