San Francisco's September Condo Sales Activity for 2007 vs. 2006.
(From the San Francisco Association of Realtors)

(Click on the image to the left for a PDF of the report)

In the Richmond District the number of sales was up as were prices while days on market were less.

District 5 (Noe & Eureka Valley, etc) saw prices go from an average of $775,775 in 2006 to $936,000 in September 2007. There were 21 sales Sept. 2007 vs. 38 in 2006. But...days on market was much lower at 27 vs. 47 in '06.

In District 7 (Pac Heights et al) 19 condominiums sold averaging $1,261,000 with only 33 DOM. In 2006 20 properties sold averaging $907,500 at 38 DOM.

District 9 came in lower this September with 46 places selling at an average of $732,000 and 55 DOM vs. 50 condos selling at a $758,750 average last September at 60 DOM.

The high end of ALL MARKETS are selling very well. 1 bedrooms seem to be harder to sell, especially in bad areas, bad locations, bad floor plans....any excuse not to buy something, buyers will not buy.

But a 1-bedroom bankruptcy sale at the Metropolitan (District 9) hit the market two weeks ago in a bad location and not cheaply priced and it went Pending in 2 days.

So who knows? There are a lot of investors from all over California in San Francisco. As well as investors/buyers from all over the United States, Central & South America, Asia, Europe, etc (lots of everyone here).

Which is how San Francisco has always been. But now people from around the world do not have to uproot their lives to get their fill of San Francisco. They can just buy a condo or house and visit a couple of times a year.

In addition the job market is still strong. Many of our clients are moving or have moved to San Francisco because of job transfers or accepting new jobs for more money.

As long as the job market is strong in San Francisco, and international markets are doing well, allowing foreign buyers, the market will be fine.

And for the foreseeable future, both of these indicators seem strong.

One thing we are not seeing anymore of are people trying to flip properties in San Francisco.