San Francisco Market Snapshot

The number of homes that sold in San Francisco during Q2 2019 was 4% below a year earlier, a reversal of the 12% increase in home sales during 2018.

The inventory of homes available for sale has grown. At the end of Q2 2019, 8,500 homes were for sale across San Francisco, up 15% from 7,400 a year earlier, when inventory was near an historic low. While higher than 2018, today’s inventory is still low in comparison with historic standards.

Home prices in the region are slowing from month-to-month and are roughly level with a year earlier. The average share of listings receiving a price cut in San Francisco was 14% at the end of Q2 2019, well above 8% a year earlier.

Interest rates have decreased in recent months, averaging 3.9% for a 30-year fixed rate mortgage (FRM) at the end of Q2 2019. This average rate is below this time last year, a positive change for homebuyers, as FRM rates peaked in late-2018 and have since fallen back.

Thinking about buying or selling? Contact me for more specifics on buying or selling in your neighborhood!

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