San Francisco Bay Area Real Estate Market Update – May 2021

Market Update – San Francisco Bay Area

The housing market remains strong with buyer demand, closed sales, and home prices rising. Encouragingly, the number of new listings being added to MLS each day has finally started to exceed closed sales and C.A.R is still forecasting at least 10% growth in home sales this year.

Single-Family Home Highlights

Median Price was $1,340,000:

• A 38.9% increase compared to last year.
• Homes got sold 52.94% faster compared to last year.

Sales Activity:

• 104.6% increase year-over-year
• 5.2% decrease month-to-month

Monthly supply level is lover than 2020, prices might thrust upward.

Sale Price to List Price Ratio:

• May 2021: 109.3%
• May 2020: 100%

Price/Sq Ft.

• May 2021: $729
• May 2020: $543

Condo & Townhomes Highlights

Median Price was $830,000:

• A 17.7% increase compared to last year. ($705,000)

Homes got sold 47.37% faster compared to last month.

Sales Activity:

• 232.6% increase year-over-year
• 8.5% decrese month-to-month

Monthly supply level is lover than 2020, prices might thrust upward.

Sale Price to List Price Ratio:

• May 2021: 103.5%
• May 2020: 100.0%

Price/Sq Ft.

• May 2021: $668
• May 2020: $577