DECEMBER REAL ESTATE UPDATE


Happy Holidays Friends,




Winter is here and November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.




For San Francisco: Compared to November 2019, in November 2020:* 

New Listings were up 13.1 percent for single family homes and 1.3 percent for Condo/TIC/Coop properties.


Pending Sales increased 42.1 percent for single family homes and 24.9 percent for Condo/TIC/Coop properties.





Median Sales Price was up 5.7 percent to $1,695,000 for single family homes and 1.7 percent to $1,200,000 for Condo/TIC/Coop properties.

Months Supply of Inventory increased 20.0 percent for single family units and 96.9 percent for Condo/TIC/Coop units.


*The San Francisco Association of Realtors full data report for November 2020 is attached. See the last page for neighborhood breakout. 

We've also included November 2020 Snapshot links for the below counties from the California Association of Realtors:


·MARIN


·SAN MATEO


·ALAMEDA


·CONTRA COSTA


SUMMARY, per SFAR:



Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.


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Now more than ever it's critical Buyers and Sellers align themselves with a knowledgeable Realtor who understands the dynamics of our unique Bay Area market. If you know of someone who may be looking to purchase or sell real estate, we’d love to put our knowledge to work for them to help them achieve their real estate goals while minimizing time, costs and liability. 


Sending our wishes for a safe holiday and New Year, and please feel free to share our Real Estate Update with your friends.  




Ed and Therese Milestone, Realtors  / Broker Associate 

Berkshire Hathaway Home Services

President's Circle - Top 2% Nationwide!