
SF Condo Market Report: Summer 2023
Summer saw volume and median price decline from last summer, and almost half of all current inventory has been on the market for 30 days or more.
sf condo market
Summer saw volume and median price decline from last summer, and almost half of all current inventory has been on the market for 30 days or more.
We’re still seeing lots of condo inventory in San Francisco, and I’m hoping buyers take advantage of the recently lower interest rates to purchase some of the available units.
The San Francisco condo market is still sluggish, with way more units on the market than there are in contract. The good news, however, is that buyers don’t appear to be giving up on purchasing condos in the city.
Values trended up in April despite the ongoing buyer-seller condo stalemate.
Condo median price and volume leapfrogged over the previous two months of 2023—good news for San Francisco’s condo market.
Price and volume saw a boost in February as we moved out of the holiday doldrums.
The condo market showed signs of life in January, with a higher year-over-year median price and new buyers getting into the mix.
The holiday season wasn’t kind to the condo market as volume and price both took dives in December.
With plenty of inventory and comparatively minimal closed sales, October wasn’t exactly a model month for the San Francisco condo market.
September saw a 20% increase in the average condo price compared to August—with luxury condo volume doubling, too.
Median price and overbidding percentages were lackluster in August, and volume returned to its more normal pre-pandemic levels.