SF and Daly City: Market Performance Luster and Lackluster
I feel like a broken record here, but yes, still, despite melt down in other parts of the country and even in neighboring counties, SF’s real estate market remains strong. Here’s a snapshot of properties sold as of Feb 5, where, and for how much (you can see the complete sales record at sfgate.com):
Such data are more enlightening when extrapolated, so take a look at this information from SFHomeBlog.
73 Properties Changed hands in the San Francisco Real Estate Market during the two week period of January 23rd – February 5th 2008
SFH Single Family Homes
17 sold Over Asking ↑
13 Sold Under Asking ↓
7 Sold At Asking ↔
Condos
9 Sold ↑
12 Sold ↓
10 Sold ↔
2-4 Unit buildings
1 Sold ↑
3 Sold ↓
1 Sold ↔
Note also that these data do not include condo sales in the newer developments that manage their own sales since those sales hane not been entered into tax record yet. The upshot of all of this information is that ”even though we are down on the volume of sales year over year we still have over 61% of properties that are selling at or over their asking prices.”
As a comparison, though I do not have the more extrapolated data for Daly City, here’s the entire sales record for that area. Note (a lot) less sales, (considerably) lower prices, etc. This comfirms SF’s bubble status, since poor DC is her closest neighbor, yet the bad luck there hasn’t much penetrated.
