Sales of Condominiums shot Upward | The Real Estate Trading Game

Sales of condominiums shot upward throughout the city, rebounding from this time last year by 5.5 percent. Condominiums under contract also increased by 25.7 percent, beating out last year?s numbers, as well. For condominiums priced between $500,000 and $900,000, the months of supply inventory declined by 42.9 percent to a reading of 2.4 months. For luxury condominiums priced above $900,000, the months of supply inventory also contracted, by 26.8 percent to 4.7 months.

?The northeastern section of the city, which includes downtown San Francisco, continues to witness strong condominium sales activity. Compared to the same time last year, the number of pending sales has increased by a substantial 78.8 percent, with 59 total units under contract. At the end of the month, the total number of sold condominiums hit 37, a 42.3 percent increase from August 2010. High-rise condominiums can be found in the bustling downtown area, while other luxurious condominiums are located in elegant and historical Russian Hill, as well as North Beach, also known as San Francisco?s ?Little Italy.?

San Francisco?Association?s Market Focus report for?September 2011. A report is issued each month by the Association.

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Source: http://blog.863katy.com/2011/09/sales-of-condominiums-shot-upward/

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