General Trend Statistics: Russian, Nob & Telegraph Hills; North Beach
Note: the number of sales in Telegraph Hill and especially North
Beach are often so low that the statistics may sometimes not be meaningful. All
these areas are dominated by condo, co-op and sometimes TIC sales; house sales
are very few (but generally extremely expensive).
Active Listings on the Market
The number of listings on the market at any given time is determined
by 3 big factors: seasonality, buyer demand and the motivation of prospective sellers
to sell. In the 5-year line chart, one can see the large decline in listings
available to purchase at any given time over that period.
Number of Listings Accepting Offers (Going under
This basic measure of market activity depends upon both
buyer demand and the number of listings available to purchase. Above and beyond
seasonality, a big surge in condo listings accepting offers may indicate that a
new development came on market during that period.
Median Sales Prices: 2-Bedroom Condos & Co-ops
6-month rolling averages
Median sales price is that price at which half the sales
occurred for more and half for less. It typically conceals a large variety of
different prices in the underlying individual sales, and can also be affected
by other factors besides changes in home values, such as seasonality and large
changes in the distressed, luxury-home or new-construction segments of the
market. Short-term fluctuations are much less meaningful than longer-term
Average Dollar per Square Foot on Sale
This statistic is based upon interior living space and
doesn’t include garages, storage areas, decks or patios.Typically, square footage figures come from
appraisals or tax records, but square footage can be measured in different ways
and the figures can be unreliable. Also, a fair percentage of listings don’t
even report square footage so the statistic is only based on those sales that
do. These values should be considered very general statistical approximations.
Percentage of Sales Sold over List Price
Large percentages of sales in which the price
is bid up above asking price usually signifies spirited buyer competition for
new listings. This is another
statistic that is affected by seasonality: Higher percentages in spring and
autumn, lower during the summer and winter holidays.
Median Percentage of Sales Price to List
This statistic is becoming distorted because many SF listing
agents are strategically underpricing their listings. Still, sales prices
consistently well above asking prices are a classic sign of a very hot real
Median Days on Market
Under 30 days is considered a fast moving market. Below 20
days reflects extremely high buyer demand for new listings. This figure would
be even lower except that many San Francisco agents prefer to show their
listings for 10 to 14 days before the seller even reviews offers, so as to
fully expose the home to as many prospective buyers as possible and thus
maximize the potential of a bidding war.
Months Supply of Inventory (MSI)
MSI measures how long it would take to sell the existing
inventory of listings for sale at current rates of market activity. Typically,
under 3 months of inventory is considered a seller’s market; 2 months or less
signify an extreme seller’s market.
San Francisco: Russian, Nob & Telegraph Hills, North Beach: Home Values
Sales by Price Range
Russian, Nob & Telegraph Hills; North Beach Condo Values by Year
Russian Hill (Only): Condo Values by Year
Van Ness/Civic Center: Condo Sales & Values
Luxury Condo Sales
As one can see below, the Russian, Nob & Telegraph Hills area plays a large role in luxury condo sales in the city.
Statistics such as these are generalities, subject to fluctuations due to a variety of reasons (besides changes in value). Sales not reported to MLS – of which there are quite a few in San Francisco – are not included in this analysis. All numbers should be considered approximations.
All information herein is derived from sources deemed reliable, but may contain errors and omissions, and is subject to revision.
Copyright 2016 Paragon Real Estate Group