lower mission CONDO - MAY 2 0 2 4
MONTHS OF INVENTORY 5 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 18% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 88% VS 2023
▼ 8% VS 2023
▼ 3% VS 2023
▼ 11% VS 2023
There were 92 condo listings in Lower Mission in May, 5% above April and 88% higher than May 2023.
May condo sales decreased by 6% month-over-month, to 17, and were 11% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Lower Mission, at 5.4, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
17 92
19 49
-18% -8% -3% 110% -11% 88%
18 88
-5% -5% 3% 11% -6% 5%
The condo median price in May was $465,000, a 3% increase from April and 3% below May 2023. The average sold price was $501,821, 5% below last month; the average PSF sale price was $440, down 5% to last month.
$440 $501,821 $465,000 5.4
$537 $547,826 $480,000 2.6
$465 $530,647 $452,500 4.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 92 88
48
80
41
48
59
47
49
51
48
47
47
46
13 35
19
18
18
25
19
17
10
8
7
6
5
16
2
$560K
$480K
$477K
$465K
$455K
$453K
$446K
$445K
$435K
$429K
$429K
$422K
$333K
May-23
Apr-24
May-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
50
5.5
4+ bdrms
40
4.7
3.8
30
1
3 bdrms
6
20
13
2 bdrms
10
66
0
3
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 3 14 4.7 12 46 3.8 0 15 n/a 2 11 5.5 0 3 n/a 0 1 n/a 0 2 n/a
<2 bdrms
20
Copyright © June 10, 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of June 10, 2024. All data from Association of Interior Realtors & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 33 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online