We do not know how the crisis will ultimately play out, depending as it does on so many, rapidly changing, socio-economic factors.
Median Sales Price TrendsThese first 4 charts review median sales price trends in the short, medium and long-term. March and first quarter prices generally reflect the pre-crisis market. Link to our San Francisco home price map
Shelter-in-Place Effect on Inventory & Deals – by WeekThe following 4 charts detail the plunge in listing and accepted-offer activity, and the surge in listings being pulled off the market by sellers, over the past 4 weeks. Typically, at this time of year, the first 3 charts would be seeing steady climbs over February numbers, and the 4th chart would have a very low, flat trend line. Though the numbers are way down, some listings have still been going into contract.
Average Days on Market by MonthThose listings that did go into contract in March – a much lower number than normal – apparently did so quite quickly after coming on market, presumably seizing the attention of buyers despite the crisis. Or the buyers and sellers may already have been in the midst of negotiations when shelter in place rules began.