Here are the highlights:
The real estate recovery was strong in 2014 with strong price gains and low levels of inventory throughout San Francisco.
From December 2013 to December 2014, the median sales price for single family homes rose 14 percent to reach $1,080,000. Condos, TICs, and coops saw a 25 percent increase to reach $952,000.
In terms of new listing activity, December 2014 saw significant declines in the number of new properties coming onto the market with close to 50 percent less single family home listings coming onto the market last month. For condos, TICs, and coops, this number was close to 40 percent.
Low levels of inventory has meant that more than half of all properties are selling for more than the listing price. Close to 75 percent of buyers of a single family home paid more than the listing price. The same was true for more than 50 percent of condo, TIC, and coop buyers.
A look across San Francisco’s 10 districts, shows that District 2, comprised of the Outer Sunset, Central Sunset, Inner Sunset, Outer Parkside, Parkside, Inner Parkside, Golden Gate Heights, saw the most sales in December 2014, while District 6, Lower Pacific Heights, Anza Vista, Western Addition, North Panhandle, Alamo Square, Hayes Valley, saw the largest jump in median sales price.
Download the full report here: SFAR_MarketFocus_2014-December