As of early September, interest rates have increased again and stock markets declined once more: They continue to see substantial short-term volatility and it remains difficult to confidently predict their future movements and effects on real estate markets. The next major indicator of buyer and seller psychology and market dynamics will be what occurs during the next 2 months of the autumn selling season, prior to the mid-November to mid-January holidays lowdown, typically the slowest market of the year.
A. San Francisco
September Stats 2022
As of September 1st 2022, there were 1253 active and coming soon listings posted to MLS: 71% of these listings were condos, co-ops and TICs, and 29% were houses.
Condo median sales prices generally dropped in the aftermath of the pandemic hitting.
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B. San Mateo County
September Stats 2022
In the latest month, 45% of sales closed over final list price, down from 86% in March.
Since March 2022, the average sales-price-to-list-price percentage has dropped by 14 points, to 1% below list price.
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C. Santa Clara County
September Stats 2022
Comparing August 2022 with August 2021, the number of new listings was down about 29%. And the number of active listings on a given day of the month was up about 29%, but down 11% from July 2022.
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D. Stanford Circle
September Stats 2022
As of 9/6/22, there were 116 active or coming soon listings priced $5 million+ and 55 priced $10 million+ in Stanford Circle cities as posted to MLS.
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E. Oakland-Berkeley
September Stats 2022
Since peaking in April 2022, the average overbid percentage has dropped by 15 points, but was still 9% above list price in July. This statistic is a lagging indicator of market activity 3-6 weeks earlier. It is affected by demand and by strategic underpricing (common in the Inner East Bay).
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F. Tri-Valley South Alameda
September Stats 2022
Since peaking in March 2022, the average sale-price-to-list-price percentage has dropped by 18 points, to 3% below list price.
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G. North Contra Costa
September Stats 2022
Since April 2022, the average sales-price-to-list-price percentage has dropped by 12 points, to 3% below list price.
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