Please click this link to view the Low, High & Median Sales Prices and Average Dollar per Square Foot in select San Francisco neighborhoods between 10/16/09 – 4/15/10.

Changes in median price and average $/sq.ft. don’t necessarily signify a change in market values, as both statistics can be affected by changes in buying trends, “unusual” events, and, when the number of sales is small, by a few specific sales clustered well above or below normal.

Comparing this data to the previous 6-month period, changes in median price and average $/sq.ft. most commonly ranged in the 0 – 5% range, plus or minus: no definitive city-wide trend can yet be determined, though the increasing market demand would typically exert upward pressure on prices. Finally, remember that sales data is always 4 to 8 weeks behind the market, since that is the usual period of time between acceptance of offer and the final closing of the sale.

Many aspects of value cannot be reflected in general statistics: curb appeal, age, condition, views, amenities, outdoor space, “bonus” rooms, parking, quality of location within the neighborhood, and so forth. Huge disparities may appear between low and high prices for a property type in the same area: a 3-bedroom house may be a 4000 sq.ft. Victorian or a 1500 sq.ft. 1950’s era home. Thus, how these statistics apply to any particular home is unknown.

In real estate, the devil’s always in the details.

Almost half of San Francisco’s greenhouse gas emissions come from energy usage in local buildings.  At the same time, excessive water usage in buildings strains California’s water resources.  Currently, the largest constraint to San Francisco’s buildings becoming more efficient in their use of energy and water is the large up-front cost of these improvements.  Despite government incentives to decrease the up-front cost for energy and water efficiency projects, as well as renewable energy installations, these improvements can still cost several thousand dollars.  As a result, many San Francisco building owners find it difficult to make these environmental upgrades to their buildings.

Check out their website for more information!

Demand in the San Francisco home market continues to strengthen, while supply (as measured by months’ supply of inventory) continues to tighten. Median prices remain surprisingly stable, jogging up and down in small increments over the past 4-5 quarters, but always staying within a 3% range.

The spring season is typically an active sales period, though some pundits believe buyers have been rushing in recently because 1) the Federal Homebuyer Tax Credit is due to expire this month, and 2) an expectation that mortgage rates will rise now that the Fed has just ended its mortgage bond buying program. However, because of income and purchase price limits, and the higher cost of housing here, the Fed tax credit has never impacted SF like it has other areas of the country, and now a new California tax credit has been announced with no income or price limits.  Interest rates have started to tick up a little, but remain very low by historic standards.

New $10,000 California Homebuyer Tax Credit!

Under a new California law, a homebuyer may receive up to $10,000 in tax credits as either a first-time homebuyer or as a buyer of a brand new home. With the Federal tax credit due to expire soon, there is a brief window of opportunity in April to qualify for up to $18,000 in combined federal and state tax credits. This would require an accepted contract to purchase before April 30 with close of escrow occurring May 1 to June 30. Here is a chart that details and eligibility criteria for both programs. This should be reviewed with your accountant.

Below is a summary of market activity. Click on the links to see statistical charts.

SF Homes Accepting Offers
As the spring selling season began in earnest, the number of listings accepting offers increased to their highest level in well over 2 years.

SF Median House Sale Price
The median house sale price, at $745,000, is about 20% below its 2007 high of $926,000, but what is most interesting is how incredibly stable the median has remained over the past 4 quarters — ever since the market recovery began last spring. After its big drop subsequent to the 9/08 market meltdown, despite jogging up or down a little bit each quarter, it has stayed within 2.6% of $750,000 for the past year.

Read more

From CAR:

The annual rate of home-price decline improved in January in the 10-City and 20-City Composites tracked as one of the S&P/Case-Shiller Home Price Indices released yesterday.  The 10-City Composite remained unchanged in January compared with a year ago, and the 20-City Composite declined 0.7 percent compared with January 2009.  All 20 metro areas and both composites showed an improvement in the annual rates of decline in January compared with December.

As of January 2010, home prices nationwide averaged levels similar to those of autumn of 2003. From the peak in June/July of 2006 through the trough in April 2009, the 10-City Composite declined 33.5 percent and the 20-City Composite 32.6 percent. The peak-to-date figures through January 2010 indicate declines of 30.2 percent and 29.6 percent, respectively.

Los Angeles and San Diego showed slight improvements in actual index levels from the previous month to the current month. All other metros and the two composites showed a slight decline from their December 2009 levels.

“The report is mixed. While we continue to see improvements in the year-over-year data for all 20 cities, the rebound in housing prices seen last fall is fading,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s.  “Fewer cities experienced month-to-month gains in January than in December 2009, on both a seasonally adjusted and unadjusted basis. On a brighter note, San Francisco is 12.9 percent above its trough value.”

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Top floor loft condominium in Stanley Saitowitz designed building. Located on a prime Dogpatch block, this secluded unit features 18 foot ceilings, a floating mezzanine and a private roof deck with panoramic views.  Minimalist design with flexible floor plan and expansive floor to ceiling windows that provide great light.  Additional features include formal dining area, media center with built-in shelving, office area, hardwood floors, and a wood burning fireplace. 

Great sunny location close to many popular dining destinations including The Ramp Kelly`s Mission Rock, Serpentine, Chez Papa, Kitchenette, Piccino and more!  The building is one block from the T line light rail and is minutes away from the 280 freeway.   

 There is one car deeded parking plus storage.  Best of all the HOA dues in this boutique four unit building are just $250 per month.