San Francisco Market Update

Market Highlights

 

According to the San Francisco Multiple Listing Service, buyer activity increased single-family home prices despite fewer sales in fourth quarter of 2016.

  • The average number of days a single-family home and a condominium stayed on the market throughout the City rose 18 percent from Q4 2015 to Q4 2016.  
  • The average sales price for a single-family home across San Francisco grew 15 percent, from $1.6M in Q4 2015 to $1.8M in Q4 2016.
  •  The average sales price for a condominium stayed relatively flat at $1.2M in Q4 2016, a small 1 percent decrease from Q4 2015.

Courtesy of our friend Mary Lou Castellanos

Overall Prices Rise 7.1 Percent

Happy New Year to all of you, and particularly to those of you who already own real estate in The Valley of the Moon. If you own a home, you can give thanks for a 7.2 percent rise year over year. The average sales price for a home in Sonoma Valley this year tops 1 Million Dollars. Last year it was less than $938,000.

Land prices have risen exactly 7 percent compared to last year. There is an inventory squeeze going on in Sonoma Valley, frozen zoning means we have no new subdivisions. The number of unit sales actually dropped this year for both residences down 11 percent, and land down 18.

We hope you have a wonderful New Year and we are grateful to work with you.

                                                                                       Donald & René

 

The Gentrification of Sonoma: 2016 Q1 Market Report

Residential property values climbed again this winter, rising 18.6% over Q1 2015. The number of sales was virtually the same; 94 versus 93 last year. The unit sales figures include a handful of land sales each year. Indeed, it was the price of land that rocketed higher as it has over the last four years, the average price jumped from just under $780,000 to over $1,114,000 a 43% leap. However, the small sample size makes the land sales data less representative.  

Among houses, the price per square foot jumped from $425 to $498 a 17.1% rise.  More properties are breaking above $1M. In Q1 2015, there were 18 sales over that threshold, the most expensive selling for $2.4. In 2016, there were 22 sales over $1M, with five selling for $2.4 or more.  

Please don’t hesitate to contact me with any real estate questions.

Cheers, 

Donald  

Please go to www.KinnybrookDrive.com , the property pictured above, to see a wonderful home on approximately 14 acres, with a new price of $3.45M.