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    Real Estate Report, Q2 2017
    San Francisco
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From Pacific Union International Chief Economist Selma Hepp - July 14, 2017

Second-quarter housing market activity in San Francisco was characterized by heightened buyer activity amid declining inventory conditions. These combined forces led to higher absorption rates, bringing the supply of homes for sale to a two-year low. Strong buyer activity also led to diminished days on market across all price ranges.

Price appreciation for new condominiums remained constrained in San Francisco neighborhoods where much construction has occurred, such as South of Market. Existing condominiums showed slow price growth, although they fared relatively better in the second quarter than in prior months. 

Looking Forward: Although we expect third-quarter sales to reflect a mild seasonal lull, the Bay Area’s reliable and impressive core economic drivers should continue to fuel demand for San Francisco real estate. And despite mortgage interest rates that remain historically low, the possibility of increases may motivate some homebuyers who have been sitting on the fence.

 

Steven Gothelf

415 602 3515

sgothelf@pacunion.com

stevegothelf.com

License #: 00709006

ndominiums At a Glance

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Home Prices

No Change Since
Q2 2016
 
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Inventory

21.3% Fewer Homes
Available for Sale
 
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Days On Market

41 Days
on Average
 
 

Homes At a Glance

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Home Prices

6.7% Higher Than
Q2 2016
 
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Inventory

16.7% Fewer Homes
Available for Sale
 
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Days On Market

33 Days
on Average