This number was up 5 percent from the previous quarter and up 6 percent from the previous year. A total of 620 homes sold, for a 9 percent gain quarter-over-quarter but a 5 percent drop year-over-year. The average 28 DOM here was another signifier that San Francisco homes are as in-demand as ever. It’s unlikely that the average sales price will leave the $1.5 million to $2 million range anytime in the near future.
SALES PRICE CHANGE
Homes that required no price change netted 15 percent on top of initial asking price, the highest of all Bay Area regions. When sellers tested the market, they were still able to recover 92 percent of their initial listing.
AVERAGE SALES BY NEIGHBORHOOD – TOP 10
Russian Hill, Lake Street and Laurel Heights all saw strong growth, with gains of 78 percent, 53 percent and 52 percent, respectively. Cow Hollow and the Marina District also posted impressive gains above 25 percent. The major uptick in Telegraph Hill’s average sales price was due to one outlier netting a hefty $10.69 million.