Market Update – San Francisco Bay Area
The housing market remains strong with buyer demand, closed sales, and home prices rising. Encouragingly, the number of new listings being added to MLS each day has finally started to exceed closed sales and C.A.R is still forecasting at least 10% growth in home sales this year.
Single-Family Home Highlights
Median Price was $1,340,000:
- A 38.9% increase compared to last year.
- Homes got sold 52.94% faster compared to last year.
Sales Activity:
- 104.6% increase year-over-year
- 5.2% decrease month-to-month
Monthly supply level is lover than 2020, prices might thrust upward.
Sale Price to List Price Ratio:
- May 2021: 109.3%
- May 2020: 100%
Price/Sq Ft.
- May 2021: $729
- May 2020: $543
Condo & Townhomes Highlights
Median Price was $830,000:
- A 17.7% increase compared to last year. ($705,000)
Homes got sold 47.37% faster compared to last month.
Sales Activity:
- 232.6% increase year-over-year
- 8.5% decrese month-to-month
Monthly supply level is lover than 2020, prices might thrust upward.
Sale Price to List Price Ratio:
- May 2021: 103.5%
- May 2020: 100.0%
Price/Sq Ft.
- May 2021: $668
- May 2020: $577