REO sales constituted approximately 12% to 15% of home sales in San Francisco since the beginning of the 2009– a rate that has stayed relatively steady (and far below the rates of many other Bay Area counties).

Through May 22nd, there were 99 REO house sales and 26 REO condo sales, ranging from a low price of $196,000 to a high of $1,320,000, with a median price of about $470,000. The average dollar per square foot for the REO house sales was $374, and for condos, $456/sq.ft.

Almost 50% of REO house sales accepted offers within 2-3 weeks of going on market and, reflecting a hot market for such homes, averaged a sales price of 6% above the asking price. Though the sales listed below are from neighborhoods all over the city, in fact over 75% of the REO house sales took place in the southern border neighborhoods of the city, stretching from Bayview to Oceanview.

This entry was posted on Sunday, June 14th, 2009 at 11:55 am and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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