The State of the Market: SF Real Estate Update

I updated the Short-term Median Sales Price chart through the first half of May – it stayed steady after the huge jump in April. This chart is available online here: http://www.paragon-re.com/Docs/General/SixtyFortyImages/Median-Prices_Short-Term.jpg. If you notice that on the chart Julian published, the April median showed as $750,000 instead of $745,000 below, this is simply because sales reported late to MLS for the month of April slightly adjusted the final figure.

Responding to requests, the Google IPO Effect chart (sent out last night, and again here below) is online here: http://www.paragon-re.com/Docs/General/SixtyFortyImages/Google-IPO-Effect.jpg

And here are two charts tracking supply and demand for houses and condos in San Francisco, by week, for the past 6 months, through 5/13/12:

Units for Sale: Inventory continues to drop in the face of enormous demand. We’re running about 50% below last year at this time. This chart is online: http://www.paragon-re.com/Docs/General/SixtyFortyImages/5-13-12_SFD-Condo_Units_FS.jpg

Percentage of Units Accepting Offers (in a given week): Keeps on climbing. This chart is online: http://www.paragon-re.com/Docs/General/SixtyFortyImages/5-13-12_SFD-Condo_Units_UC.jpg. In previous years, before the market started to heat up again, the percentage typically ran 4% – 6% per week. Now, we’re up to 14% to 17%.