22 Oct 2009

Recent Sales (Over, Under or At ask)

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As I mention in my article on volume, more activity puts pressure on prices. As you can see in the table below, the number of transactions where the property is selling for more than the asking price, is sharply up from earlier this year, where even for single family homes, under 20% of transactions were yeilding a sales price over asking. We’re at a whopping 54% of single family home transactions closed in the last two weeks coming in over asking price.  To see more about earlier in the year, click see “Have we found the Floor?” from July 31, 2009

Last 2 weeks’ home sales in SF:      
  Over Ask Under Ask At Ask Total 
SFD 39 20 13 72
% of sales 54% 28% 18%  
Condos/TICs 17 41 13 71
% of sales 24% 58% 18%  
2-4 Unit Buildings 2 9 1 12
% of sales 17% 75% 8%  
Total 58 70 27 155
% of sales 37% 45% 17%  

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