I’m a little late with the data this month. But better late than never right? So here’s the data for the San Francisco Real Estate Market for the month of January 2008.

The number of sales took a dip from December, but since these are all homes that likely went into contract in the slowest real estate month of the year, this isn’t a surprise. Overall though, the picture didn’t change too drastically fromDecember 2007.

What is evident though is that homes that are priced properly are still selling quickly, and a smidge over the asking price. As the days on market increases, the percentage of list price vs. selling price goes down. The lesson – price your property right the first time if you’re going to put it on the market.

So here’s this month’s summary of home sales pulled directly from the MLS. Remember, these are all closed sales and not pending sales.

Check back monthly to get the latest facts and figures – and if you have any questions about these statistics, or the market in general, feel free to give me a holler! I’m always happy to talk "real estate!"

Here’s a quick snapshot of the market from January 1, 2008 through January 31, 2008:

Single Family Homes

• 104 Homes Sold
• Median Sale Price was $915,000
• Minimum Sale Price was $260,000
• Maximum Sale Price was $4,200,000
• Median Selling Price was 99% of asking price
• Median Days on Market was 44
• Median Selling Price for homes that sold within 30 days was 102% of asking price

Condominiums, Lofts & Co-ops

• 76 Homes Sold
• Median Sale Price was $730,000
• Minimum Sale Price was $195,844
• Maximum Sale Price was $6,450,000
• Median Selling Price was 98% of asking price
• Median Days on Market was 58
  
• Median Selling Price for homes that sold within 30 days was 101.5% of asking price

TIC’s

• 31 Homes Sold
• Median Sale Price was $584,000
• Minimum Sale Price was $275,000
• Maximum Sale Price was $1,399,000
• Median Selling Price was 99% of asking price
• Median Days on Market was 60
  
• Median Selling Price for homes that sold within 30 days was 100% of asking price