Monthly market report: Bay Area

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June 2021 highlights

The Bay Area saw new median price milestones in June and continued to experience an active peak season with sale-to-list price ratio for single family homes at a minimum of 110% across the region. 

  • A milestone high price for San Francisco. San Francisco single family homes jumped 8% month over month to a median sale price of $2.1M, a multi-year high. Meanwhile, median list price dropped 6% from May, indicating that sellers may be intentionally under-listing to gain traction with buyers. 13% fewer single family homes were listed month over month and 24% fewer went pending, indicating that lower inventory may also be inflating sale prices.   
  • Year-over-year jumps for the East Bay. Median sale price for East Bay single family homes was 21% over last June and a whopping 34% over the $925,000 median in June 2019. Month-over-month, sale price held about steady as the number of homes listed increased by 11%. Without that bump in inventory, sale prices likely would have seen a steep increase as buyers continued to be active. 
  • The South Bay held steady at its new levels. The South Bay saw no significant changes from May to June, continuing a three-month trend of single family home sale-to-list price ratio at or above 110%, compared with 100% in June of 2020 and 2019. Median days on market also held steady for the third month at 7 days, compared to 11 in June of 2020 and 14 in 2019.  
  • Peninsula median sale price rose to $2.2M. The Peninsula saw an 18% increase in median sale price for single family homes, coming in at $2.2M. This change may have been due to higher-end properties selling this month or may be a sign of appreciation in the area; the next few months will be telling. Median list prices fluctuated down just 1% and days on market held at a median of 7. Meanwhile, sale to list price increased 3% to a multi-year high of 113%. 

See previous months’ highlights

Competition

Our research team explored the competition facing homebuyers in select areas.

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San Francisco includes data for the city of San Francisco.

East Bay includes data for Oakland and Berkeley.

South Bay includes data for San Jose, Santa Clara, and Sunnyvale.

Peninsula includes data for San Mateo, Foster City, Belmont, and San Carlos.


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