May 2019 Market Update

In today’s episode of Escrow Out Loud, our San Francisco Real Estate podcast, we look at what the SF real estate market was like in May 2019.[00:26] What trends should buyers be aware of in the condo and single family home markets? The numbers show that under a million dollars, condos are really the only available option, barring virtually uninhabitable single family homes. What about higher price ranges?[02:58] We also see a continuation of a trend we’ve been talking about for a while. Number of sales year over year is down 10% for condos and 16% for single families, due to a very constricted supply.[03:27] Prices for condos are down around 2-4% while single families are up 4-7%. The size of the market above the 1.5 million price point is a lot smaller than we might expect. Matt shares his thoughts on why we are seeing this in the market, by doing a bit of math around the income levels necessary to purchase a $1.5M home in SF.[06:34] In future podcasts it will be interesting to compare a quarter or half a year with last year’s numbers and see if the same trends apply.Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week! Hosted on Acast. See acast.com/privacy for more information.