The spring Bay Area real estate market is in full swing, and while sales are a little slower than they were in 2018, buyers continue to pay over the asking price for both single-family-homes and condos.
San Francisco
This April in San Francisco, the average sale price for a single-family-home reached an all-time high of $2,264,990, according to ReReport.com. This was 0.6 percent higher than it was at the same time last year.
March 2018 set the record for the highest median sales price for condos in San Francisco at $1,250,000. But April of this year matched that record.
San Francisco buyers paid over the asking price for both homes in condos. In April, the price to list-price ratio for single-family-homes was 106.8 percent. For condos, it was 103.4 percent.
A total of 216 single-family-homes were sold in San Francisco in April of this year, which was 15.5 percent more than were sold at the same time last year. A total of 305 condos were sold, which was 8.2 percent more than at the same time last year.
Homes and condominiums in San Francisco sold a little slower in April than they did in April 2018, but faster than they did in March of this year. In April 2018, the days on market for single-family-homes was 19 days. In April of this year, it was 25 days. For condos, days on market in April 2018 was 26. This year, it was 37 days.
San Mateo County
In San Mateo County, the median price for a single-family-home was down from where it was last year. In April 2018 is was $1,800,000 compared to $1,601,000 this year, according to the San Mateo County Association of Realtors (SAMCAR). The represents an 11 percent drop. April of this year was consistent with March’s median sales price for single-family homes.
For condominiums in San Mateo County, the median sale price in April was $940,000. This was down 7 percent from where it was in April 2018 at $1,010,000. The median sale price in April of this year was slightly lower than it was in March at $965,000.
As in San Francisco, San Mateo buyers continue to pay over the asking price for both homes and condos. For single-family-homes, the price to list-price ratio was 105.3 percent, which was the same for condos, according to ReReport.
The number of single-family-homes sold in San Mateo County was slightly more than were sold in April 2018, according to SAMCAR. In April of this year, 379 single-family-homes were sold in San Mateo County, compared to 334 in April 2018.
Fewer condos were sold in San Mateo County in April of this year. A total of 117 condos were sold this year, compared to 125 in April 2018.
It took a little longer to sell single-family-homes in San Mateo County this April compared to the same time last year. This year, the average days on market was 25 days. Last year, it was 16 days. In March of this year, it was 30 days.
For condos, the average days on market in April of this year was 21 days, compared to 12 days in April 2018. In March of this year, it was 31 days.
Santa Clara County
In Santa Clara County, the median sale price for a single-family-home was $1,320,000, which was down 7 percent from where it was last year at $1,422,500, according to the Santa Clara County Association of Realtors (SCCAOR). April of this year was consistent with March.
For condominiums in Santa Clara County, the median sale price in April was $850,000, which was down 8% percent from where it was last year at $919,444. The median sale price in April of this year was slightly higher than it was in March at $838,000.
Santa Clara home buyers also paid over the asking price for both homes and condos. For single-family-homes, the price to list-price ratio was 102 percent. For condos, it was 101.4 percent.
The number of single-family-homes sold in Santa Clara County was slightly fewer than were sold in April 2018, according to SCCAOR. In April 2109, 874 single-family-homes were sold, compared to 908 in April 2018.
A total of 336 condos were sold in April of this year, which was lower than the 368 that were sold in April 2018.
It took a little longer to sell single-family-homes in Santa Clara County this April compared to the same time last year. This year, the average days on market was 25 days. Last year, it was 16 days. In March of this year, it was 28 days.
For condos in Santa Clara County, the average days on market in April of this year was 30 days, compared to 9 days last year. In March of this year, it was 32 days.
