The following is adapted from the November 2023 Monthly Indicators report published by the San Francisco Association of REALTORS®.
Low inventory, elevated sales prices, and decades high interest rates continue to weigh on the housing market nationwide, causing sales of existing homes to fall to their slowest pace since August 2010. According to the National Association of REALTORS® (NAR), US existing-home sales declined 4.1 percent month-over-month and 14.6 percent year-over-year as of last measure.
In San Francisco, year-over-year, New Listings were down 35.9 percent for Single-Family homes and 1.3 percent for Condo/TIC/Coop properties. Pending Sales decreased 1.2 percent for Single-Family homes but increased 13.1 percent for Condo/TIC/Coop properties.
The Median Sales Price was up 2.3 percent to $1,535,000 for Single-Family homes but remained flat at $1,125,000 for Condo/TIC/Coop properties. Combined, the $1,345,000 figure marks the first year-over-year gain since May 2022. Months Supply of Inventory remained flat for Single-Family units but was up 27.3 percent for Condo/TIC/Coop units.
The shortage of available properties for sale has kept pressure on home prices, which have continued to climb despite the slowdown in sales. According to NAR, the nationwide Median Sales Price of existing homes is up 3.4 percent from a year ago to $391,800, an all time high for the month, with annual price gains reported in all four regions of the country.
District 1
Central Richmond, Inner Richmond, Jordan Park / Laurel Heights, Lake Street, Lone Mountain, Outer Richmond, Sea Cliff
District 2
Central Sunset, Golden Gate Heights, Inner Parkside, Inner Sunset, Outer Parkside, Outer Sunset, Parkside
District 3
Ingleside, Ingleside Heights, Lake Shore, Lakeside, Merced Heights, Merced Manor, Pine Lake Park, Stonestown
District 4
Balboa Terrace, Diamond Heights, Forest Hill, Forest Hill Extension, Forest Knolls, Ingleside Terrace, Midtown Terrace, Miraloma Park, Monterey Heights, Mount Davidson Manor, Sherwood Forest, St. Francis Wood, Sunnyside, West Portal, Westwood Highlands, Westwood Park
District 5
Buena Vista / Ashbury Heights, Clarendon Heights, Cole Valley / Parnassus Heights, Corona Heights, Duboce Triangle, Eureka Valley / Dolores Heights, Glen Park, Haight Ashbury, Mission Dolores, Noe Valley, Twin Peaks
District 6
Alamo Square, Anza Vista, Hayes Valley, Lower Pacific Heights, North Panhandle, Western Addition
District 7
Cow Hollow, Marina District, Pacific Heights, Presidio Heights
District 8
Downtown, Financial District, Nob Hill, North Beach, North Waterfront, Russian Hill, Civic Center, Telegraph Hill, Tenderloin
District 9
Bernal Heights, Dogpatch, Inner Mission, Mission Bay, Potrero Hill, South Beach, South of Market, Yerba Buena
District 10
Bayview, Bayview Heights, Candlestick Point, Crocker Amazon, Excelsior, Hunters Point, Little Hollywood, Mission Terrance, Outer Mission, Portola, Silver Terrace, Visitacion Valley
