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Russian Hill - Nob Hill - Telegraph Hill Real Estate Price Trends

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General Trend Statistics: Russian, Nob & Telegraph Hills; North Beach

Note: the number of sales in Telegraph Hill and especially North Beach are often so low that the statistics may sometimes not be meaningful. All these areas are dominated by condo, co-op and sometimes TIC sales; house sales are very few (but generally extremely expensive).

Active Listings on the Market

The number of listings on the market at any given time is determined by 3 big factors: seasonality, buyer demand and the motivation of prospective sellers to sell.

Number of Listings Accepting Offers (Going under Contract)

This basic measure of market activity depends upon both buyer demand and the number of listings available to purchase. Above and beyond seasonality, a big surge in condo listings accepting offers may indicate that a new development came on market during that period.

Median Sales Prices: 2-Bedroom Condos & Co-ops
6-month rolling averages

Median sales price is that price at which half the sales occurred for more and half for less. It typically conceals a large variety of different prices in the underlying individual sales, and can also be affected by other factors besides changes in home values, such as seasonality and large changes in the distressed, luxury-home or new-construction segments of the market. Short-term fluctuations are much less meaningful than longer-term trends.

Average Dollar per Square Foot on Sale

This statistic is based upon interior living space and doesn’t include garages, storage areas, decks or patios.Typically, square footage figures come from appraisals or tax records, but square footage can be measured in different ways and the figures can be unreliable. Also, a fair percentage of listings don’t even report square footage so the statistic is only based on those sales that do. These values should be considered very general statistical approximations.

Percentage of Sales Sold over List Price

Large percentages of sales in which the price is bid up above asking price usually signifies spirited buyer competition for new listings. This is another statistic that is affected by seasonality: Higher percentages in spring and autumn, lower during the summer and winter holidays.

Median Percentage of Sales Price to List Price

This statistic is becoming distorted because many SF listing agents are strategically underpricing their listings. Still, sales prices consistently well above asking prices are a classic sign of a very hot real estate market.

Median Days on Market

Under 30 days is considered a fast moving market. Below 20 days reflects extremely high buyer demand for new listings. This figure would be even lower except that many San Francisco agents prefer to show their listings for 10 to 14 days before the seller even reviews offers, so as to fully expose the home to as many prospective buyers as possible and thus maximize the potential of a bidding war.

Months Supply of Inventory (MSI)

MSI measures how long it would take to sell the existing inventory of listings for sale at current rates of market activity. Typically, under 3 months of inventory is considered a seller’s market; 2 months or less signify an extreme seller’s market.

San Francisco: Russian, Nob & Telegraph Hills, North Beach: Home Values

Sales by Price Range

Russian, Nob & Telegraph Hills; North Beach Condo Values by Year 

Russian Hill (Only): Condo Values by Year 

Luxury Condo Sales

As one can see below, the Russian, Nob & Telegraph Hills area plays a large role in luxury condo sales in the city.

Statistics such as these are generalities, subject to fluctuations due to a variety of reasons (besides changes in value). Sales not reported to MLS - of which there are quite a few in San Francisco - are not included in this analysis. All numbers should be considered approximations.

All information herein is derived from sources deemed reliable, but may contain errors and omissions, and is subject to revision.

Copyright 2017 Paragon Real Estate Group