February 2025 Newsletter

Market Update

So much happens in a short month! We're seeing the market pick up, and fast! 241-243 Scott St SOLD for $350,000 over asking in just 16 days on market! I co-hosted an event with Live Near Friends, about how to buy a 2-4 unit building with friends or family, and over 40 people attended! That's a pic below... Check out the video at the end! Meanwhile, I'm prepping three new listings for March:

- Sweet 1 BR condo in Pacific Heights

- View Duplex in Potrero Hill

- Newly renovated VACANT Duplex in Russian Hill with a roof deck!

Coming in April & May: Lower Haight Mixed Use 7-unit Building with a HUGE Vacant Owner's unit, AND a Lower Haight 3BR 2BA condo with parking!

Cheers!

Lisa Z

P.S. All the charts and nifty market data you're looking for are below, of course!

The data below pulls from the SF Multiple Listing Service and is updated Monthly:

Average Sold Price

$1,523,195

$1,463,722 last month

San Francisco

List vs Sold Price

107.00%

102.00% last month

San Francisco

New Listings

414

434 last month

San Francisco

Sold Listings

284

226 last month

San Francisco

I added this Listing Snapshot because I find it so interesting, and thought you might, too. Buyers considering a Condo/ TIC may want to consider a Duplex: excellent value on a $/sf basis; great rental income to offset mortgage expenses or consider buying with friends or family.

Source: SFAR MLS. Data deemed reliable but is not guaranteed.

Mortgage rates for 30-year loans fell for a third day Monday, pushing the average down to 6.71%. That's now the cheapest level of 2025. Rate movement was down for many other mortgage types as well. When mortgage rates start to fall, be ready to take advantage. Our advice: don't wait to buy: as rates go down, competition will heat up. Get in now, & refi later. - February 25, 2025

source: investopedia.com

CURRENTLY ON MARKET - CLICK HERE!

Since August 2022, the median single-family home and condo prices have hovered around $1.6 million and $1.1 million, respectively. In December, prices were almost exactly in line with those averages. Year over year, the median price was up 5% for single-family homes, but down 1% for condos. Inventory is once again at a record low, so rising supply only increases prices as buyers are better able to find the best match.

Single-family homes in San Francisco are still selling for over listing price

There’s a rather interesting phenomenon happening in San Francisco. If we were to tell you that the median sale price for homes dropped by nearly 10% on a year-over-year basis, you might assume that homes are selling for less than asking. However, that’s not the case in San Francisco. While, citywide, the median condo is selling for slightly less than asking and fetching roughly 96% of its original price, the median single-family home is still fetching 105% of its original asking price. Despite the fact that prices fell a bit in January, by no means is the San Francisco market weak!

San Francisco is entirely a sellers’ market

Any market that has lower than three months of MSI is considered a sellers’ market, whereas markets with more than three months of MSI are considered buyers’ markets. With just 1.1 months worth of single-family homes and 2.8 months worth of condos available for sale at this point in time, the entire San Francisco market has become a sellers’ market. The slow trickle of supply that we’re seeing simply can’t keep up with the overwhelming demand we’re seeing in the market, making it tough to strike a deal!

ALL THE DATA - CLICK HERE!

Thinking about your next move or investment? I work with both buyers and sellers, for residential homes and investment property. I'm always available to answer questions, or provide updated market data, give me a call! 415.948.5747.

241-243 Scott Street

Fully Renovated Designer Duplex

SOLD! $3,241,875

IN CONTRACT

Just 7 Days on Market

See 241-243 Scott.Com HERE!

1029-1031 jackson

Fully Renovated TIC's

On Market in March!

Two units, walking distance to FiDi, North Beach & Nob Hill

HUGE 3 & 4 Bedroom Units
2 -3 Full Bathrooms
Brand new Kitchens
In-Unit Laundry
Hardwood floors
Updated electrical & plumbing
Roof Access + Views!

PERFECT for partners, friends, or multi-generational family living

241-243 Missouri St

Classic Victorian Duplex

Top Floor Owners Unit Vacant

HUGE views + sunny yard
2-3 BR, 2 BA Owners Unit
Hardwood floors
2 car parking + Seismic upgrades

2999 California St #32

1 BR + Office + 2 Parking

Sunny Bright Corner Condo

Great location, on Muni #1 Line
Hardwood floors & classic features
Private Secure Storage
2 car Tandem Parking
Low HOA dues

Interested in learning more about a 1031 Exchange? It's how real estate investors trade up from one property to another, while mitigating tax exposure. Smart. I love it. Ask me how!