Market Focus: April 2021

March 22, 2021

Market Focus: April 2021
 
And now, this month’s crunching of numbers is, as always, courtesy of the San Francisco Association of Realtors.
 
Normal spring increases in sales activity, coupled with relaxing COVID-19 policies, created a very busy March real estate market as buyer demand continued largely unabated in the face of rising home prices and mortgage rates. Existing home seller and new construction activity continue to remain below levels necessary to bring the market back into balance, pointing to a busy and competitive buyer market in the coming months. 
 
New Listings were up 33.9% for single-family homes and 68.8% for Condo/TIC/Coop properties. Pending Sales increased 61% for single-family homes and 146.7% for Condo/TIC/Coop properties. 
 
The Median Sales Price was up 10.6% to $1,742,500 for single-family homes but decreased 2.4% to $1,220,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 32.1% for single-family units but was up 4.8% for Condo/TIC/Coop units. 
 
While many homebuilders are working to increase their activity, the cost of lumber and other materials and a backlogged supply chain continue to limit new home construction and have increased costs substantially. New methods of construction, including 3D printed homes, could speed construction and reduce costs in the future, but realistically are several years away from making a measurable impact in the market. 

Recent Blog Posts

Stay up to date on the latest real estate trends.

Portola Real Estate Market Update

April 23, 2024

In the last two weeks, there has been 1 home sale in San Francisco's Portola and Excelsior neighborhood. The single closed listing sold for $1,160,00. The closed listi… Read more

Sunset District Real Estate Market Update

April 23, 2024

In the last two weeks, there have been 16 home sales in the Sunset District. Closed listings range in price from $725,000 to $1,850,000. The closed listings had a medi… Read more

Noe Valley San Francisco Market Update

April 23, 2024

In the last two weeks, 5 homes closed in San Francisco's Noe Valley neighborhood. The closed listings range in price from $499,000 to $2,825,000. The listings have a m… Read more

Bernal Heights Real Estate Market Update

April 23, 2024

In the last two weeks, there have been 5 home sales in San Francisco's Bernal Heights neighborhood. Closed listings range in price from $1,160,000 to $1,775,000. The c… Read more

Portola Real Estate Market Update

April 9, 2024

In the last two weeks, there have been 4 home sales in San Francisco's Portola and Excelsior neighborhood. Closed listings range in price from $775,000 to $2,230,000. … Read more

Bernal Heights Real Estate Market Update

April 9, 2024

In the last two weeks, there have been 8 home sales in San Francisco's Bernal Heights neighborhood. Closed listings range in price from $942,000 to $3,140,000. The clo… Read more

Noe Valley San Francisco Market Update

April 9, 2024

Sunset District Real Estate Market Update

April 9, 2024

In the last two weeks, there have been 12 home sales in the Sunset District. Closed listings range in price from $693,800 to $2,300,000. The closed listings had a medi… Read more

Pacifica Real Estate Market Update April

April 1, 2024

Pacifica Real Estate Market Update

Let's Talk

You’ve got questions and we can’t wait to answer them.