market update Current prices for properties on the market Trends in pricing Current levels of supply and demand Report for the week ending Sunday March 14, 2010 RICHMOND / SEA CLIFF Full Details for Zip Code 94121 Neighborhood Detail Real-Time Market Profile THIS WEEK Single Family The median single family home price in the neighborhood this week is $975000. There are 31 homes for sale and they've been on the market for an average of 149 days. Median List Price $975,000 Average List Price $1,585,527 Least Expensive Listing $399,000 Most Expensive Listing $11,500,000 Price per Square Foot $533 Average Days on Market 149 Total Inventory 31 Sold This Week 6 Median Sq ft 1,850 Bedrooms 3 Bathrooms 2 Median Age 89 Real-Time Market Profile THIS WEEK Condos The median condominium price this week is $579500. There are 19 condos for sale, on the market for an average of 122 days. Median List Price $579,500 Average List Price $668,226 Least Expensive Listing $399,000 Most Expensive Listing $1,385,000 Price per Square Foot $518 Average Days on Market 122 Total Inventory 19 Sold This Week 4 Median Sq ft 1,297 Bedrooms 2 Bathrooms 2 Median Age 27 QUARTILES To get a tightly targeted understanding of homes in the market, we break each locale into quartiles, where each quartile is 25% of the homes listed. Single Family Homes - Quartiles Quartile Median Price Med. Sqft Beds Baths Med. Age Inven. Newly Listed Sold Days on Mkt-Approx 1 $2,695,000 3,495 4.0 3.5 98 7 1 1 69 Most expensive 25% of homes 2 $1,142,500 1,850 3.5 2.0 90 8 3 3 107 Upper-middle 25% of homes 3 $870,450 1,906 3.0 2.0 86 8 1 0 27 Lower-middle 25% of homes 4 $697,475 1,384 2.0 1.0 87 8 1 2 251 Least expensive 25% of homes Condominiums - Quartiles Quartile Median Price Med. Sqft Beds Baths Med. Age Inven. Newly Listed Sold Days on Mkt-Approx 1 $924,400 2,400 3.5 3.0 8 4 2 1 142 Most expensive 25% condos 2 $759,000 1,297 3.0 2.0 20 5 1 0 34 Upper-middle 25% condos 3 $529,000 1,042 2.0 2.0 27 5 1 1 34 Lower-middle 25% condos 4 $459,000 1,084 2.0 1.0 47 5 1 2 104 Least expensive 25% condos PRICE The median single family home price in 94121 this week is $975000. The median price of all condos on the market is $579500. INVENTORY There are 31 single family homes available in the neighborhood this week and 19 condominiums on the market. DAYS ON MARKET The single family homes have been on the market for an average of 149 days. Half of the listings have been on the market less than 16 weeks. The currently available condos have been on the market for an average of 122 days. Half of the condo listings have been on the market less than 6 weeks. CITY OVERVIEW - SAN FRANCISCO Real-Time Market Profile THIS WEEK Single Family Condos The median single family home price in SAN FRANCISCO this week is $829000. There are 609 homes for sale in the city and they've been on the market for an average of 137 days. Median List Price $829,000 $669,000 Average List Price $1,184,209 $836,033 Least Expensive Listing $169,000 $148,357 Most Expensive Listing $13,500,000 $8,500,000 Price per Square Foot $504 $610 Average Days on Market 137 158 The median condominium price this week is $669000. There are 1070 condos for sale, on the market for an average of 158 days. Total Inventory 609 1070 Sold This Week 55 72 Median Sq ft 1,675 1,138 Bedrooms 3 2 Bathrooms 2 1 Median Age 81 27 QUARTILES To get a tightly targeted understanding of homes in the market, we break each locale into quartiles—where each quartile is 25% of the homes listed. Single Family Homes - Quartiles Quartile Median Price Med. Sqft Beds Baths Med. Age Inven. Newly Listed Sold Days on Mkt-Approx 1 $1,895,000 2,972 4.0 3.5 95 152 32 10 76 Most expensive 25% of homes 2 $995,000 1,975 3.0 2.0 77 152 35 12 41 Upper-middle 25% of homes 3 $729,000 1,415 3.0 2.0 70 152 35 14 34 Lower-middle 25% of homes 4 $474,050 1,128 2.0 1.0 81 153 24 19 62 Least expensive 25% of homes Condominium - Quartiles Quartile Median Price Med. Sqft Beds Baths Med. Age Inven. Newly Listed Sold Days on Mkt-Approx 1 $1,279,000 1,714 2.0 2.0 14 267 44 12 62 Most expensive 25% condos 2 $769,000 1,288 2.0 2.0 31 267 73 25 41 Upper-middle 25% condos 3 $579,000 990 2.0 1.0 30 268 45 22 62 Lower-middle 25% condos 4 $399,000 732 1.0 1.0 28 268 31 13 118 Least expensive 25% condos PRICE The median single family home price in SAN FRANCISCO this week is $799163. The median price of all condos in the city this week is $620038. PRICE AND VALUE Price per square foot is a measure of the value placed on properties. Watch for changes in the long term trends of price per square foot as signals of changes in the market. The median price per square foot for single family homes this week is $487. For condos the median price per square foot is $599. INVENTORY Notice that all markets have seasonal fluctuations in inventory (fewer homes are for sale in winter, for example) so a change in inventory alone does not signal strength or weakness. There are 609 single family homes available this week. And 1070 condominiums on the market in SAN FRANCISCO. DAYS ON MARKET The single family homes have been on the market for an average of 137 days. Half of the listings have been on the market less than 7 weeks. The currently available condos have been on the market for an average of 158 days. Half of the condo listings have been on the market less than 10 weeks. DAYS ON MARKET Look for different trends for Days on Market at the different price points of the market Quartiles. About This Report Report contents Copyright 2006-2009 Altos Research Corp. all rights reserved. All information contained herein is based on properties currently listed for sale on the Multiple Listing Service. The data presented in this report is accurate to the best of our knowledge, but cannot be guaranteed as such. Use this report as one input in the real estate decision making process, but do not rely on it for accuracy. This report is for information purposes only and is not a recommendation to buy or sell property. We recommend you work with a licensed real estate agent. Report data sourced on: March 12, 2010 For more information visit www.altosresearch.com