Leave a Message

Thank you for your message. We will be in touch with you shortly.

August 2022: By The Numbers

September 30, 2022

August 2022: By The Numbers
Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year-over-year as of last measure, according to the National Association of REALTORS® (NAR). Pending home sales have also continued to decline, while new listings have steadily increased, with unsold inventory reaching 3.3 months’ supply at the start of August. The pullback in demand has been particularly hard on homebuilders, causing new-home sales and construction to slow. New Listings were down 13.7 percent for single family homes and 20.4 percent for Condo/TIC/Coop properties. Pending Sales decreased 25.2 percent for single family homes and 29.1 percent for Condo/TIC/Coop properties.
The Median Sales Price was down 12.0 percent to $1,625,000 for single family homes and 14.1 percent to $987,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 5.9 percent for single family units but was up 3.6 percent for Condo/TIC/Coop units. Inflation, higher interest rates, and fears of a potential recession have taken a toll on buyers and sellers this summer, leading many people to stay on the sidelines to see what will happen with the market. But some experts, including NAR Chief Economist Lawrence Yun, believe the worst of inflation may be over. Although sales prices remain up from this time last year, price growth is expected to moderate in the months ahead as the market continues to shift in a more buyer-friendly direction.

Recent Blog Posts

Stay up to date on the latest real estate trends.

Top real estate agents in San Francisco's Sunset District, Alec Mironov with Pacific Edge Real Estate Group
Sunset District Real Estate Market Update

January 28, 2025

In the last two weeks, there have been 4 home sales in the Sunset District. Closed listings range in price from $725,000 to $1,284,050. The closed listings had a media… Read more

Top real estate agent in San Francisco's Noe Valley neighborhood, Alec Mironov with Pacific Edge Real Estate Group.
Noe Valley San Francisco Market Update

January 28, 2025

In the last two weeks, 7 homes sold in San Francisco's Noe Valley neighborhood. The closed listings range in price from $625,000 to $2,925,925. The listings have a med… Read more

Top Real Estate Agent in San Francisco Bernal Heights, Alec Mironov Real Estate Agent
Bernal Heights Real Estate Market Update

January 28, 2025

In the last two weeks, there have been 8 home sales in San Francisco's Bernal Heights neighborhood. Closed listings range in price from $1,165,000 to $2,500,000. The c… Read more

Top Real Estate Agent in San Francisco Portola Neighborhood Specialist, Sean Komarmy
Portola Real Estate Market Update

January 25, 2025

In the last two weeks, there has been 1 home sale in San Francisco's Portola and Excelsior neighborhood. The sold home price was $730,000. The sold home had a price pe… Read more

Top Real Estate Agent in Pacific Heights San Francisco
Top Hiking Trails in Pacific Heights

January 21, 2025

Pacific Heights seamlessly blends urban sophistication with natural splendor. Its array of parks and proximity to expansive trail networks offer both residents and vis… Read more

80 Affordable Senior Housing Units Planned in Berkeley

January 20, 2025

The proposed design consists of four stories above a ground-level garage and common amenities. The garage will provide parking for 61 cars, including 26 spaces dedicat… Read more

Top real estate agents in San Francisco
2024's Most Competitive San Francisco Neighborhood (and Some Alternatives!)

January 20, 2025

For many people who were looking to buy a home in San Francisco in 2024 (or actually in 2020, 2021, 2022, etc.), the answer to "what's the most competitive neighborhoo… Read more

Top Real Estate Agents in San Francisco
What Is This "1031" Thing, Anyway?

January 20, 2025

When considering whether a 1031 exchange could be right for you, start strategizing your next property move early, and involve your advisors, including your Realtors (… Read more

Top real estate agents in San Francisco
Clip In for the 2025 Pacific Edge Peloton Challenge!

January 20, 2025

Oh yes, it's here again… It's ROUND THREE of the Pacific Edge Peloton Challenge! The game is simple but the sweat is real! 

Let's Talk

You’ve got questions and we can’t wait to answer them.