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January 29, 2009

First-Time Home Buyers Snap Up Deals

The past month’s sales figures are an excellent indicator of how the market is doing for single-family homes. Here are a few quick updates:

Total Houses Sold: 59

Number Sold Under Asking Price: 36

Number Sold At Asking: 4

Number Sold Above Asking: 19

Average Sale Price: $747,231

Though sales were scattered across many neighborhoods, a bulk were centered on the Bayview/Excelsior/Visitacion Valley/Portola/Silver Terrace areas, which had an average sales price of $488,270.

Only nine single-family homes sold for above $1M. I’m thinking there are quite a lot of first-time buyers out there using the market to their advantage.

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