With its December average home sales price of $1.5 million, San Francisco County appears on the surface to be an unaffordable market with minimal for-sale inventory priced below $500,000. However, a recent market report from Intero Real Estate Services provides data that refutes this claim. During December of last year, nearly 46 percent of all for-sale listings, 54 of 118 listings, in San Francisco County were priced below $500,000. Additionally 22.8 percent of all listings were priced between $500,000 and $1 million. Combined, the two price points and homes listed below $1 million represent nearly 70 percent of San Francisco County's existing for-sale supply. Intero reports that homes priced below $500,000 are on the market for an average of 36 days. Bay Area home price increases are still a hot topic In the East Bay, homes listed below $500,000 also represented a significant, nearly 33 percent, volume of for-sale inventory as of December. While the 269 listings ...
- Homes priced below $500,000 in San Francisco County are on market for an average of 36 days.
- Home priced between $500,000 and $1 million account for more than 40 percent of the East Bay and Peninsula's inventories.
- Buying will continue to represent a cheaper option then renting for those that can qualify.
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