• Kim Wiley
    415-519-5595
  • Todd Wiley
    415-317-5888
San Francisco Real Estate Group
  • About
    • Company Overview
    • Partners
    • Bio
  • Trust & Probate
    • Overview
    • Professional Services
    • Testimonials
    • Glossary
  • Properties
  • Resources
    • Buyers
    • Sellers
    • Communities
  • Testimonials
  • Blog

The Real Deal SF

Archive
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • February 2020
  • April 2019
  • February 2019
  • November 2018
  • August 2018
  • May 2018
  • November 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • October 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
February 2021 Market Report February 19, 2021

 

 

compass

 

 

San Francisco Real Estate

 

 

 

Home Sales Surge at End of 2020. 

High Demand Gets 2021 Off to Heated Start.

 

February 2021 Report

 

 

 

Our January report focused mostly on 2020’s annual statistics. This report will put most of its attention on quarterly and monthly indicators, which better illustrate changes occurring as 2020 progressed and 2021 began. 

 

Of Bay Area counties, San Francisco was most negatively affected in the months immediately following the implementation of shelter-in-place. Inventory soared and sales plunged, especially in its condo market. In the second half of the year, buyers rushed back into the market.  

 

Sales volume, very unusually, peaked for the year in December, hitting its highest December number ever. Home sales in January were up 67% over January 2020, a tremendous increase. Year-over-year, house median sales prices are up a little, and condo median prices, divided by size of unit, are down about 10%. 

 

The city remains a very complex market, varying by neighborhood, property type and price segment. And vaccines may alter the dynamics considerably in 2021.

 

 

 

 

New listings coming on market jumped up in January, as is the norm. The market seems to be heating up much more quickly than typical at the beginning of the new year.

 

 

 

 

 

This next chart illustrates the rapid growth in inventory that occurred after the pandemic struck: The spike was heavily weighted to condo listings, which hit an all-time high. In the last 3 months, inventory began dropping quickly – due to increasing demand, a drop in new listing activity, and a jump in listings being pulled off the market by sellers in December for the holidays.  

 

 

 

 

Month by month, year-over-year comparison of home sales volumes – illustrating the initial pandemic crash in activity followed by the market rebound that saw monthly sales volumes climb far above the levels of the previous year. Blue columns represent monthly sales within the last 12 months, and gray columns, sales in the previous 12 months. 

 

Sales were up 60% and peaked for the year in December (first time ever), and January sales soared 67% above January 2020. 

 

 

 

 

Of the sales reported to MLS, closing in December and January, 43% were houses, 51% condos, 5% TICs and 1% co-ops. 

 

Of the active/coming soon listings in MLS as of early February, 26% were houses, 63% condos, 9% TICs and 2% co-ops.

 

 

The chart below: Comparing 2020 to 2019, luxury house sales were up, luxury condo sales were well down, and non-luxury home sales were about flat. However, none of these statistics do justice to the rapid acceleration in market activity occurring in the second half of the year. 

 

 

 

 

 

Sales price to original list price percentage: Over 100% – as seen in the 4 quarters of 2020 for houses – signifies an average sales price above original list price. Under 100% – as seen in the 2020 condo market – means, on average, sales prices were negotiated below asking price. Overbidding has declined substantially over the past 3 years. 

 

 

 

 

As buyer demand bounced back, the number of price reductions dropped from the historic high reached in early autumn – however, on a year-over-year basis, the number remains higher than is typical for January. 

 

 

 

 

A much larger number than usual of unsold listings were pulled off the market in December. We expect many of these to be re-listed early in the new year, some of them at lower prices than before. 

 

 

 

 

The 2 tables below reflect market statistics and values for Q4 2020 only, by city district (each containing a variety of neighborhoods), first for houses and then for condos. Q4 stats will often be different than those for the full year 2020. 

 

It is not unusual for more expensive markets to have softer supply and demand statistics, though this is not always the case. 

 

City condo markets – especially in districts dominated by high-rises and large projects – often saw much cooler conditions than house markets.  

 

 

 

 

Below is the first of 4 tables reviewing full-year 2020 SF home values by neighborhood. The full report along with a home price map is here:  San Francisco Neighborhood Home Prices. And for the entire region: Bay Area 2020 Home Prices. 

 

 

 

 

Two major factors behind the Bay Area housing market recovery were the dramatic drop in interest rates, and the significant rebound in the stock market – especially in the stock prices of some of our local high-tech giants. 

 

 

 



The Wiley Team
Todd and Kim Wiley
DRE# 01410925 & 01964194           


M: 415.317.5888

wileyteam@compass.com

 

 

© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC

Compass is a real estate broker licensed by the State of California operating under
multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075,
1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented
herein is intended for informational purposes only and is compiled from sources deemed reliable
but has not been verified. Changes in price, condition, sale or withdrawal may be made without
notice. No statement is made as to accuracy of any description. All measurements and square
footage are approximate. Equal Housing Opportunity.


marketingcenter-sfbayarea-sfcityproper

 

 

Bay Area 2020 Median House Prices January 26, 2021

 


marketingcenter-sfbayarea-sfcityproper

compass

 

 

The below list is in order of median house sales 

prices in 2020, 

from highest to lowest. 

 

Link to interactive Bay Area home price map

 

 

 

 

All things being equal – which they rarely are – a smaller house will sell for a lower price (of course), but a higher dollar per square foot value. 

 

 

 



The Wiley Team
Todd & Kim Wiley 

DRE# 01410925 & 09164194 

 

M: 415.317.5888
wileyteam@compass.com

 

San Francisco Real Estate in 2020 January 26, 2021
compass

San Francisco Real Estate in 2020

January 2021 Report

Pandemic, shelter in place, mass unemployment, terrible financial hardships for many households and small businesses, new ways of working, office buildings empty, people move, rents plunge, dreadful fires, an anxious presidential election, interest rates to historic lows, stock markets to new highs, billionaires decamp to save on taxes, IPO mania breaks out again, vaccines begin to arrive – and the real estate market in San Francisco saw complicated dynamics in supply and demand, with a strong recovery after an initial crash in activity.

2020: a year of social, political, economic and environmental extremes. Let us give thanks to those who worked so hard and sometimes risked their lives to help others.

The following analyses were designed to be self-explanatory, but please don’t hesitate to contact us with any questions.



The Wiley Team
Todd & Kim Wiley
DRE# 01410925 & 01964194

T: 415.317.5888  
wileyteam@compass.com

© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC

Compass is a real estate broker licensed by the State of California operating under
multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075,
1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented
herein is intended for informational purposes only and is compiled from sources deemed reliable
but has not been verified. Changes in price, condition, sale or withdrawal may be made without
notice. No statement is made as to accuracy of any description. All measurements and square
footage are approximate. Equal Housing Opportunity.


marketingcenter-sfbayarea-sfcityproper

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
Next
  • Todd Wiley : 415-317-5888
    todd@sanfranciscorealestategroup.com
  • Kim Wiley : 415-519-5595
    kim@sanfranciscorealestategroup.com
Drop us a note
  • About
    • Company
    • Partners
    • Bio
  • Trust & Probate
    • Probate Process Management
    • Buying Probate
    • Testimonials
    • Probate Glossary
  • Properties
  • Resources
    • Communities
    • Buyers’ Resources
    • Sellers’ Resources
  • Testimonials
  • Blog

©Copyright 2020. San Francisco Real Estate Group

How Can We Help You With Services
for Estates in Trust & Probate?Please complete the below information and we will contact you as soon as possible.





If you are looking for an attorney to assist you with your probate, trust or
conservatorship needs, we would be happy to provide you with a list of referrals.

Please complete the INFORMATION BELOW and
we will contact you as soon as possible.