Dan Risman Jones October 2021 Market Update

hello October 19, 2021

Real Estate

Dan Risman Jones October 2021 Market Update

Happy Autumn!

 
With all the harvest festivals, this is one of my favorite times of year. My kids love the pick-your-own pumpkin activities, and we look forward to our annual pilgrimage to Half Moon Bay to take part in the weekend festivities down there. I hope you get to enjoy the Halloween time period.
 
 
As we expected, the fall market has come back, though it was a bit dampened compared to what we typically see during the month of September. New listings increased, but we are still at the lowest September inventory since 2014, which may push October/November to a stronger market. The number of active listings continues to drop, getting closer to average. Single-family home inventory is at one of the lowest levels for the month of September in a decade, which may prop up single-family home prices a bit longer.
 
  • Months supply of inventory hit its lowest level since January 2020, sitting at three months of supply.
  • Single-family home prices are down for the third month, driven by three-bedroom homes, which may have been a bit inflated. Two-bedroom condos have seen a trend upward, while one-bedroom and three-bedroom condos are stable. Price per square foot looks to be increasing, after seeing some stability for several months.
  • Overbidding is alive and well. On average, prices are still 15% above listed prices. Single-family homes are at 18% over list, while condos are 10% over list.
70% of all listings sell over their listing price, with 84% of single-family homes and 57% of condos selling over list
Inventory is low going into October, which may mean prices will stay stable. We are seeing some prices that rose too much start to drop, especially the aforementioned three-bedroom homes. It’s good to see a bit of stability in the market and some return to pre-COVID ranges along different trend lines.

Please reach out to me to discuss your own unique needs, as well as what is in store for the remainder of 2021 in the San Francisco market.

Thank you,
Dan

Recent Blog Posts

Browse our blog posts to be in the know.

2023 HOLIDAY COOKIE DECORATING SOCIAL
South Bay / Silicon Valley November '23 Real Estate Update Ascend RE
Los Angeles November '23 Real Estate Update Ascend RE
East Bay November '23 Real Estate Update Ascend RE
North Bay November '23 Real Estate Update Ascend RE
San Francisco November '23 Real Estate Update Ascend RE
16 Terrifying Haunted Houses and Ghost Tours in the Bay Area
2023 Bay Area Holiday Schedule
Analysis: Homes Near Trader Joe’s Have Higher Values
North Bay October '23 Real Estate Update Ascend RE
East Bay October '23 Real Estate Update Ascend RE
South Bay / Silicon Valley October '23 Real Estate Update Ascend RE
Los Angeles October '23 Real Estate Update Ascend RE
San Francisco October '23 Real Estate Update Ascend RE
Live Work Play Here

For the month of June, we have supported LGBT Asylum Project, and are hosting this brunch in honor of all the great work this nonprofit does. Come join our teams for a… Read more
Hiring Licensed Real Estate Agents

Take your real estate career to the next level!

North Bay: January '23 Housing Update

What does 2023 have in store for the housing market?

San Francisco: January '23 Housing Update

What does 2023 have in store for the housing market?

San Francisco: March '23 Housing Update

Spring has sprung and the market is feeling a lot luckier!

East Bay: January '23 Housing Update

What does 2023 have in store for the housing market?

Move by HUD and FHA to provide greater homeownership opportunities

Have questions about the market? Our team is here to help and connect you to a lender.

Mortgage Rates Drop Prompts Buyer Demand

Mortgage Applications jump due to lowest rates since September

San Francisco Owners Required to Register Homes

March 1 Deadline for Rent Board Housing Inventory

Tenant Buyouts

What does it entail, and what does it mean for the residence owner going forward?  

Your Spring Guide to Bay Area Farmers’ Markets

Full Guide to 79 different farmers’ markets in San Francisco and beyond.

Los Angeles September '23 Real Estate Update Ascend RE
North Bay September '23 Real Estate Update Ascend RE
East Bay September '23 Real Estate Update Ascend RE
South Bay / Peninsula September '23 Real Estate Update Ascend RE
San Francisco September '23 Real Estate Update Ascend RE
The 12 most delicious new restaurants in the Bay Area

Summer is here, and so are the boozy slushies, all-you-can-eat tacos and double cheeseburgers

East Bay August '23 Real Estate Update Ascend RE
South Bay / Peninsula August '23 Real Estate Update Ascend RE
North Bay August '23 Real Estate Update Ascend RE
Los Angeles August '23 Real Estate Update Ascend RE
San Francisco August '23 Real Estate Update Ascend RE
San Francisco July '23 Real Estate Update Ascend RE
East Bay July '23 Real Estate Update Ascend RE
South Bay / Peninsula July '23 Real Estate Update Ascend RE
North Bay July '23 Real Estate Update Ascend RE
Los Angeles July '23 Real Estate Update Ascend RE
South Bay / Peninsula June '23 Real Estate Update Ascend RE
San Francisco June '23 Real Estate Update Ascend RE
Los Angeles June '23 Real Estate Update Ascend RE
North Bay June '23 Real Estate Update Ascend RE
East Bay June '23 Real Estate Update Ascend RE
Los Angeles May '23 Real Estate Update Ascend RE
North Bay May '23 Real Estate Update Ascend RE
South Bay / Peninsula May '23 Real Estate Update Ascend RE
East Bay May '23 Real Estate Update Ascend RE
View Blogs

Let’s Talk

You’ve got questions and we can’t wait to answer them.

Contact Us
Get in Touch
By providing Ascend Real Estate your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.
Contact Details

Ascend Real Estate

(415) 347-5669

[email protected]



580 4th Street

San Francisco, CA 94107