San Francisco Luxury Home Market Snapshot
May 14, 2013 by
May 2013: This is just a quick snapshot of the San Francisco
luxury home market in April 2013 using 5 statistical charts from Broker Metrics.
For a more comprehensive overview, see our San Francisco Luxury Home Market
Report (under Market Dynamics/
San Francisco Real Estate Market Reports). In this analysis, luxury homes are
defined as those selling for $1,500,000 and above.
Broker Metrics charts can be a little hard to decipher: for greater legibility, you may wish to adjust your screen view to Zoom 125%.
Luxury Homes for Sale: Unlike the general inventory of home listings (which is much lower year over year), the number of SF homes listed and actively for sale for $1.5m and above in April – at 237 listings — though well below last autumn’s levels, was about 10% higher than it was last year, and climbing.
Luxury Homes Sold: The number of SF Homes sold for $1.5m and above in April — 90 sales – was 80% higher than in April of 2012. Both March and April 2013 had the highest number of sales in years.
Months Supply of Inventory (MSI): The Months Supply of Inventory for SF Homes of $1.5m and above was less than half of what it was one year ago. At 1.5 months in April, it was the lowest MSI reading in years, by a substantial margin. The lower the MSI, the hotter the market.
The Percentage of Listings Under Contract (Accepting Offers): The Percentage of SF Listings of $1.5m and above that accepted offers in April, at 38%, was the highest in years and 73% above the percentage in April 2012. The higher the percentage, the hotter the market.
Average Dollar per Square Foot: Average dollar per square foot values for SF Homes selling for $1.5m and above jumped from $714 in April 2012 to $940 in April 2013. Monthly average dollar per square foot values for such a broad basket of different properties — $1.5m to $30m scattered throughout the city — should be taken with a big grain of salt, still the progression of higher values in very clear and dramatic. It’s a natural consequence of the level of demand seen in the preceding charts.
Broker Metrics charts can be a little hard to decipher: for greater legibility, you may wish to adjust your screen view to Zoom 125%.
Luxury Homes for Sale: Unlike the general inventory of home listings (which is much lower year over year), the number of SF homes listed and actively for sale for $1.5m and above in April – at 237 listings — though well below last autumn’s levels, was about 10% higher than it was last year, and climbing.
Luxury Homes Sold: The number of SF Homes sold for $1.5m and above in April — 90 sales – was 80% higher than in April of 2012. Both March and April 2013 had the highest number of sales in years.
Months Supply of Inventory (MSI): The Months Supply of Inventory for SF Homes of $1.5m and above was less than half of what it was one year ago. At 1.5 months in April, it was the lowest MSI reading in years, by a substantial margin. The lower the MSI, the hotter the market.
The Percentage of Listings Under Contract (Accepting Offers): The Percentage of SF Listings of $1.5m and above that accepted offers in April, at 38%, was the highest in years and 73% above the percentage in April 2012. The higher the percentage, the hotter the market.
Average Dollar per Square Foot: Average dollar per square foot values for SF Homes selling for $1.5m and above jumped from $714 in April 2012 to $940 in April 2013. Monthly average dollar per square foot values for such a broad basket of different properties — $1.5m to $30m scattered throughout the city — should be taken with a big grain of salt, still the progression of higher values in very clear and dramatic. It’s a natural consequence of the level of demand seen in the preceding charts.
All data herein is from sources deemed reliable, but may contain errors
and is subject to revision.
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