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Market Update: SF Property Sales & Prices Continued Rising in May
Sales of single-family, re-sale homes and condos continued rising last month as we move through the Spring selling season. Home sales were up 26.4% from April, off 21% year-over-year. Year-to-date, home sales are down 21%.
Condo sales were up 10.2% month-over-month, but off 40.6% compared to May 2008. Year-to-date, condo sales are off 38.4%.
The median price for single-family homes rose for the second month in a row, the first time it has done that since April/May 2008. The median price rose 6.5% from April, but was down 13.9% year-over-year. The average price also rose, gaining 3% month-over-month, but down 24.4% compared to last May.
The median price for loft/condos in San Francisco gained 1.7% from April, but was down 16.5% year-over-year. The average price for condos rose 0.5% month-over-month, but was off 12.5% year-over-year.
Condo sales were up 10.2% month-over-month, but off 40.6% compared to May 2008. Year-to-date, condo sales are off 38.4%.
The median price for single-family homes rose for the second month in a row, the first time it has done that since April/May 2008. The median price rose 6.5% from April, but was down 13.9% year-over-year. The average price also rose, gaining 3% month-over-month, but down 24.4% compared to last May.
The median price for loft/condos in San Francisco gained 1.7% from April, but was down 16.5% year-over-year. The average price for condos rose 0.5% month-over-month, but was off 12.5% year-over-year.
featured home
South of Market
List price: $499,000
Bedrooms: 1
Baths: 1
