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June 22, 2009

Buyers Taking Action in SF

A good way to gauge the health of the real estate market in any city is to take a look at how many properties are actually going into contract and, of course, selling.

As of Friday June 19th, there were 183 single-family homes in contract, with contingencies to be removed. And 276 more are pending, meaning the contractual conditions have been removed, and the loans just need to fund. 751 single-family homes have sold since January 1st, at an average sales price of $944,040.

The condo segment of the market is also moving briskly. There are 223 condos in contract, and 143 such sales pending. 520 units have sold since January 1st, at an average price of $788,190.

TIC sales are slower, with 86 in contract and 29 pending. 128 TICs have sold at an average of $645,058.

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