Clients, friends, and colleagues:
We're now just over a month into the fall selling season of 2021 (starting after Labor Day), and it's the first time since lockdown that the market is reflecting a genuine return to "normalcy" in the data.
September 2021 ended up bringing 790 new listings to San Francisco county, a number that is well in-line with pre-pandemic figures (September 2015-2019). Demand remains strong with the number of pending sales (homes going into contract) being up quite a bit: +11.1% from one year ago (September 2020).
Median sales price figures show continued, although slower, growth in the single-family sector: +11.7% appreciation from one year ago using a 3-month rolling figure, while the median sales price for condos has dipped 1.2% year over year.
Slower growth and cooling are normal during the summer and autumn when compared to the spring. I always feel this anecdotally within my own business as well, and this year has been no different. I have a couple buyers who have gotten into contract in the last couple weeks under fair market value.
See directly below for a more detailed, data-driven view of the market in San Francisco since the onset of the pandemic in 2020.
If you have any questions about the market, reach out and I'll be happy to relay my insights.
