Weekly Market Charts – November 5, 2010
Listings Accepting Offers by Month (past 2 years): October has been one of the four most active months in the last 25 months.
Listings Accepting Offers by Week (over the past 6 months): strong activity since mid-September. And it picked up again in the week ending October 31st.
New Listings coming on Market: after the huge spike in September, October has subsided as we move into the later weeks of the autumn selling season.
Average Dollar per Square Foot for SF House Sales: very stable though jogging up and down by month. October 2010 was almost exactly the same as October of 2009, and just barely above the average for the past 13 months.
Median Price for SF Condo Sales: very stable, though jogging up and down by month. A tad higher in October 2010 than the median in October 2009, and 3-4% above the average for the past 13 months.
Average Days on Market for House and Condo Sales: Lowest in the past 25 months.
Homes for Sale on Last Day of Month (not including those which have accepted offers): Declining from September peak, but still relatively high.
Luxury Homes Accepting Offers: October was the most active month in over 2 years.
Months’ Supply of Inventory for Houses & Condos: generally stable for past 18 months, though declining from September. Compared to this calculation, the MSI is lower for houses and higher for condos.
Sold Listings vs. Expired & Withdrawn Listings: For the past 4 months, for every 10 listings that have sold, another 8 have expired or been withdrawn from the market without selling. Even with the strong buyer demand in the past 6 – 7 weeks, buyers appear to be choosing only those homes they believe are fairly priced while ignoring the rest.