All Downtown

$200,000-$399,999

The number of sales in this segment of the market have been slowing, but that is in part due to Aloft’s sales in Cortez Hill. Aloft was built as the market was crashing, so they were unable to sell them. They reverted to renting them out until the market rebounded. Many of the homes in the complex fell under this price range. The building is now sold out. This segment of the market remains below a 2 month supply, with only 34 listings available and 29 in escrow.

$400,000-$599,999

This is the range with the tightest inventory at only a 1.22 month supply! There are currently 41 listings available in this price range, but they are selling at an average rate of 33.67 per month! There are currently 36 in escrow, making this the most competitive segment of the market.

$600,000-$799,999

This segment of the market is moving quickly. On average there are 12.67 homes selling per month and inventory is sitting right around 2.5 months. While inventory doesn’t appear to be as tight, there are currently only 31 homes available in this range and there are 30 in escrow. I predict we will see the inventory fall in the 4th quarter due to the holidays and number of sales in this price range.

$800,000-$999,999

This year, we have seen sales boost in this price range and inventory begin to shrink. In Q3 of last year, there were only 4.67 homes selling per month in this range and there was a 4.71 month supply. Q3 of this year, we are selling an average of 7 homes per month in this range, with inventory sitting at 2.71 months!

$1,000,000-$1,499,999

Typically the range between $1,000,000-$1,499,999 is consistent for the entire segment, but this time around it really should be split in half. Between $1,000,000-$1,250,000 is really slow, while $1,250,000-$1,500,000 is really hot. Currently there are 19 active listings between $1,000,000-$1,250,000 and there is only 1 in escrow! On top of that, the one property in escrow is listed at $1,249,000! In comparison, between $1,250,000-$1,500,000 there are only 8 active listings and 10 properties in escrow. As a whole, this segment of the market has improved with an average of 5.67 homes selling per month and a 4.24 month supply of inventory.

$1,500,000-$2,499,999

This price range is a fairly balanced market with inventory currently sitting at a 4.5 month supply. We are averaging 2.67 sales per month, with 12 active listings to choose from. This does not include new home sales or available options in Pacific Gate by Bosa.

> or = $2,500,000

The numbers suggest this is a balanced market with an average of 0.67 selling per month in Quarter 2 of 2016. There are only 4 listings currently active over $2,500,000. I believe this is a bit deceiving and the buyer still has the upper hand in this range, with many electing for new home sales option above $2.5 million. The sample is too small to give accurate numbers.

*All information is deemed reliable, but not guaranteed. Information obtained through the Sandicor MLS on October 3rd, 2016.