Single-Family Homes

As the number of homes for sale fell throughout the city by 27.3 percent compared to November 2010, the number of homes under contract this past month rose by 21.1 percent, while the number of homes sold rose by a substantial 22.3 percent. For properties that were priced below $700,000, the months of supply inventory dropped by 67.8 percent to 1.3 months. For properties priced between $700,000 and $1.2 million, the months of supply inventory fell by 12.1 percent to 2.8 months. Readings between one and four months typically indicate a seller’s market, where sellers have more negotiating power over home buyers.

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San Francisco Quality Of Life Among Best In World, New Survey Reveals (PHOTOS)

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FROM THE LEADERSHIP
A Victory for Loan Limits
We have great news to share with you. Last week, Congress voted to restore loan limits and the maximum cap for Federal Housing Authority (FHA) loans. Their action reinstates the loan limit of 125 percent of area median price, up to $729,750. Higher loan limits will make mortgages more accessible—in fact, nearly two-thirds of buyers who will be helped by the loan limits extension have income below $100,000.

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San Francisco Housing Market Continues in Positive Direction
The month of October not only brought the allure of Indian summer to the city, but it also brought more homes under contract and a healthy number of home sales. The climbing rents in the city, falling interests rates, increasing employment in the high-tech and bio-tech industries in the city and the Bay Area, are all pointing towards a stronger San Francisco housing market.

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Listed and sold…737,500.

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