South San Francisco Home Values & Market Update
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Updated April 17, 2018

Market Snapshot – South San Francisco (Recent Sales here)

South San Francisco continues to mirror the overall market trend in the Bay Area, with rising sale prices and extremely limited and declining inventory. It marked the sixth straight year for higher sales prices for both single family homes and condo/townhomes.

The current Bay Area real estate market hinges on an extremely low supply of homes. This low inventory, combined with strong demand among home buyers, is largely responsible for the continued appreciation across most price points and markets. According to Trulia’s Chief Economist Ralph McLaughlin, this isn’t a bubble as we’ve seen in previous up cycles, but the result of basic economic forces of (lack of) supply and (strong) demand. Multiple forces are keeping home inventory low. There aren’t enough new homes being built to meet increasing demand. Additionally, current California property tax code provides a strong financial incentive for long-term homeowners to stay in their existing homes. McLaughlin also notes that the new congressional tax plan with its lower cap on the mortgage interest deduction may act to further limit supply. Under the new law, the cap on the mortgage interest deduction is reduced from $1 million to $750,000. Existing homeowners are grandfathered in at the $1 million level, giving them even more incentive to stay put.

Finally, the Fed raised interest rates in March, which will likely impact mortgage rates. Higher mortgage rates reduce buying power. Between reduced buying power and increasing prices, time is not on the side of buyers right now. Those who are ‘waiting it out’ may be waiting a long time.

Here are the numbers for March 2018. If you are curious about your South San Francisco home value, you can receive a free online estimate, or request a custom evaluation which we are happy to give to you, free, without the hard sales pitch.

 

Mar-18 % Change Year Over Year Rolling 3 Month Average
Median Sales Price ($USD) $1,110,000 27.4%
Overbids (%) 110.90% 6.5%
New Listings (#) 26 -1.61%
Homes Sold (#) 23 -19.30%
Months of Inventory 0.4 -21.43%
Median Days on Market (DOM) 12 -27.66%
Average Days on Market (DOM) 17 -31.94%

 

Median Sales Price – South San Francisco SFR

Ratio of List Price to Sold Price (Overbids) – South San Francisco SFR

Number of New Listings vs Sold Listings – South San Francisco SFR

Months of Inventory – South San Francisco SFR

Median and Average Days on Market (DOM) – South San Francisco SFR

 

South San Francisco Single Family Home Closed Sales since 1/1/2018

Street Address Close Date Price/SqFt Sale Price RATIO Close Price By List Price DOM Beds Total Bths Sq Ft Total Lot Size
144 A Street 1/9/18 973.33 $730,000 1.168 7 2 1|0 750 5,000 Lot SqFt
107 Aldenglen Drive 3/30/18 590.55 $1,500,000 1.154 18 5 3|0 2,540 4,116 Lot SqFt
113 Aldenglen Drive 3/27/18 625 $1,300,000 1.083 15 4 3|0 2,080 4,116 Lot SqFt
218 Alta Loma Drive 4/11/18 984.85 $1,300,000 1.303 14 3 2|0 1,320 5,320 Lot SqFt
338 Arroyo Drive 3/23/18 1,101.83 $1,201,000 1.264 13 3 2|0 1,090 5,400 Lot SqFt
219 Aspen Avenue 3/16/18 880.57 $581,175 0.785 142 2 1|0 660 2,425 Lot SqFt
17 Buena Vista Road 3/16/18 606.43 $1,510,000 1.233 15 4 2|1 2,490 4,787 Lot SqFt
10 Carlsbad Court 3/21/18 888.16 $1,350,000 1.174 8 3 2|1 1,520 4,500 Lot SqFt
24 Carlsbad Court 2/16/18 575.51 $1,410,000 1.284 10 4 3|0 2,450 5,600 Lot SqFt
630-630A Commercial Avenue, #630 – 630A 1/12/18 500.38 $1,325,000 1.104 14 3 2|1 2,648 3,500 Lot SqFt
842 Commercial Avenue 3/15/18 940.7 $809,000 1.448 12 2 1|0 860 5,600 Lot SqFt
361 Conmur Street 4/5/18 744.05 $1,250,000 1.193 13 3 2|0 1,680 5,750 Lot SqFt
504 Cortesi Avenue 3/30/18 673.65 $1,125,000 1.052 0 3 2|0 1,670 5,200 Lot SqFt
1146 Crestwood Drive 1/10/18 904.76 $950,000 1.086 13 3 2|0 1,050 6,150 Lot SqFt
1411 Crestwood Drive 3/2/18 775.42 $1,388,000 1.262 9 4 2|1 1,790 6,700 Lot SqFt
1411 Crestwood Dr 3/2/18 775.42 $1,388,000 1.262 4 2|1 1,790 6,700 Lot SqFt
57 Cymbidium Circle 2/20/18 740.54 $1,192,275 1.193 30 3 2|1 1,610 3,500 Lot SqFt
2340 Donegal Avenue 4/3/18 636.16 $1,425,000 1.097 12 4 3|0 2,240 5,100 Lot SqFt
273 Dundee Drive 3/15/18 705.48 $1,030,000 0.947 16 3 1|1 1,460 5,304 Lot SqFt
282 Dundee Drive 4/6/18 714.29 $1,250,000 1.043 12 3 2|0 1,750 34,812 Lot SqFt
115 Duval Drive 3/6/18 933.33 $980,000 1.198 6 3 1|0 1,050 6,254 Lot SqFt
240 El Campo Drive 4/10/18 1,049.02 $1,070,000 1.202 8 3 1|0 1,020 12,350 Lot SqFt
346 Evergreen Drive 2/9/18 688.62 $1,150,000 1.279 9 4 2|0 1,670 4,500 Lot SqFt
323 Fairway Drive 3/30/18 1,018.16 $834,888 1.285 11 2 1|0 820 4,000 Lot SqFt
2619 Gellert Court 2/21/18 728.04 $1,448,800 1.014 17 4 3|0 1,990 13,020 Lot SqFt
656 Joaquin Drive 3/22/18 833.33 $1,250,000 1.331 11 3 2|0 1,500 4,500 Lot SqFt
2319 Kristie Lane 1/19/18 767.86 $860,000 1.001 98 2 1|1 1,120 2,490 Lot SqFt
542 Lassen Street 2/23/18 795.45 $1,225,000 1.115 8 3 2|0 1,540 4,500 Lot SqFt
233 Longford Drive 3/2/18 1,005.95 $1,056,243 1.244 11 3 1|0 1,050 5,000 Lot SqFt
6 Los Flores Avenue 1/22/18 900 $945,000 1.075 10 3 1|0 1,050 4,150 Lot SqFt
128 Madrone Avenue 2/23/18 681.82 $900,000 1.125 9 3 2|0 1,320 2,500 Lot SqFt
518 Magnolia Avenue 3/26/18 707.91 $1,253,000 1.319 18 3 2|1 1,770 4,000 Lot SqFt
56 Mahogany Drive 2/26/18 644.74 $1,470,000 1.246 13 4 3|0 2,280 7,500 Lot SqFt
417 Mariposa Drive 1/4/18 730.99 $1,250,000 1.193 4 4 3|1 1,710 6,180 Lot SqFt
127 Mulberry Avenue 3/9/18 800 $800,000 1.026 11 3 1|0 1,000 5,330 Lot SqFt
128 Mulberry Avenue 4/16/18 816.33 $800,000 1.003 1 3 1|0 980 5,100 Lot SqFt
501 Orange Avenue 1/11/18 742.19 $1,425,000 1.441 12 3 2|0 1,920 4,500 Lot SqFt
28 Parkgrove Drive 2/6/18 534.3 $1,480,000 1.024 10 4 3|1 2,770 6,075 Lot SqFt
625 Pine Terrace 3/14/18 840.86 $1,000,625 1.252 15 2 1|0 1,190 4,200 Lot SqFt
545 Poplar Avenue 3/14/18 755.4 $1,050,000 1.173 13 3 1|0 1,390 4,000 Lot SqFt
107 Ravenwood Way 3/12/18 981.82 $1,080,000 1.23 10 3 1|0 1,100 4,500 Lot SqFt
207 RAVENWOOD Way 3/27/18 810.22 $1,110,000 1.235 8 2 1|0 1,370 4,500 Lot SqFt
126 Rockwood Drive 2/14/18 912.88 $1,205,000 1.342 13 3 2|0 1,320 4,950 Lot SqFt
125 Romney Avenue 1/9/18 937.5 $1,050,000 1.2 12 3 2|0 1,120 4,950 Lot SqFt
114 Rosewood Way 3/29/18 1,062.06 $1,215,000 1.158 0 3 2|0 1,144 4,503 Lot SqFt
701 Spruce Avenue 2/5/18 711.78 $1,420,000 1.456 8 4 3|0 1,995 39,900 Lot SqFt
1037 Sunnyside Drive 1/31/18 847.46 $1,100,000 1.224 9 3 2|0 1,298 7,520 Lot SqFt
1071 Sunnyside Drive 2/23/18 1,108.00 $1,108,000 1.232 7 3 1|0 1,000 4,590 Lot SqFt
2610 Tipperary Avenue 2/9/18 740 $1,110,000 1.235 3 4 2|0 1,500 5,000 Lot SqFt
104 Toyon Avenue 2/9/18 857.14 $840,000 1.084 20 3 1|0 980 4,500 Lot SqFt
2320 Wexford Avenue 4/4/18 729.17 $1,400,000 1 10 4 2|1 1,920 5,000 Lot SqFt
32 Wilms Avenue 2/26/18 675.68 $750,000 1.121 8 3 1|0 1,110 4,680 Lot SqFt
2430 Wren Court 3/16/18 651.9 $1,030,000 1.526 12 3 2|1 1,580 2,500 Lot SqFt