San Francisco House & Condo Market Dynamics  Dramatically Diverge  November 2020 Report

November 5, 2020

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San Francisco House & Condo Markets Diverge

Updated November 2020

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SF house and condo markets have been affected differently by the pandemic. This report attempts a deeper dive into the data across the city and within different city districts.



The market typically starts a big slowdown in mid-November, running through the mid-winter holidays, until it begins to wake up in mid-January. High-price segments normally see the most dramatic plunges in mid-winter activity. 



This year, the pandemic upended seasonality: Spring, usually the strongest selling season, saw a crash in activity; summer, which typically slows down - especially for luxury home sales - saw high demand, and the summer market accelerated into autumn. But supply has been accelerating even faster than demand.


We suspect late Q4 will see something of a slowdown but remain more active than in past years.





Link to a comparative review of Bay Area County Markets.


General City Dynamics, House & Condo


Sales rebounded strongly from the early-spring pandemic crash: House sales are higher than in recent years, and condo, co-op, and TIC sales are at levels comparable to peak sales volumes over that period. 


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The most dramatic change is the increase in the number of listings for sale. Condo, co-op, and TIC listings in MLS are at their highest point ever, approximately 85% higher than one year ago. House listings are also up, but much less dramatically, running about 20% to 25% higher than in autumn 2019. 


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