The sales volume of listed single-family homes in San Francisco rose 10.5% on a year-over-year basis in June, up 24 sales from 228 in 2010 to 252 in 2011 as the median sales price fell 7 percent, from $802,500 in June 2010 to $746,000 in June 2011.
As we’ve written following year-over-year median price declines of up to 13 percent over the past four months, and down 5 percent in May, expect proponents of representing changes in median as changes in value to continue to find religion (for now).
With respect to condos, listed sales volume fell 8.0 percent on a year-over-year basis in June, down 20 sales from 249 in 2010 to 229 in 2011 as the median sales price fell 1.5 percent from $660,000 to $650,000.
As plugged-in people know listed housing inventory ended June down 16 percent on a year-over-year basis, down 7 percent for single-family homes, down 16 percent for condos.
∙ Real Estate Market Trends Report [rereport.com]
∙ SF Listed Sales Volume Up 15% In January Driven By Low-Cost Areas [SocketSite]
∙ San Francisco Listed Sales Volume Down 14% In May (YOY) [SocketSite]
∙ Medians Are Up, But Don’t Confuse That With Increasing “Prices” [SocketSite]
∙ San Francisco Listed Housing Inventory Update: July 5, 2011 [SocketSite]