It was another tale of two markets during November in San Francisco. Home sales and median prices were up year-over-year, and properties spent less time on the market. On the flip side, condo sales and prices experienced a dip from 2022, and properties took longer to sell.
According to an annual survey from the National Retail Federation, 200.4 million people did some shopping from Thanksgiving Day through Cyber Monday. That’s nearly 4 million more than last year and 18 million more than expected. Most of the increase was among online shoppers, who totaled 134.2 million. But Small Business Saturday drew a majority of retail activity ($59M) to brick-and-mortar stores. Get more numbers from the NRF report.
Did you know about 150 million holiday light sets are sold in the United States every year? It’s enough to light up 80 million homes and account for 6% of electricity usage nationwide. Learn more fun facts here.
October was a month of polar opposites for home and condo sales in San Mateo County. While home sales bumped up 1% from one year ago, sales prices increased 8%, and homes are spending less time on the market.
Meanwhile, condo sales dropped 14% from 2022, prices fell 8% YOY, and properties are sitting on the market for two weeks longer than last year at this time.
Last week, we shared a snapshot of sellers on the market in 2023 from the California Association of Realtors. Now it’s time to take a look at buyers braving the waters.
Contrary to what you might guess, it’s the Millennial Generation in the driver's seat on the buyer bandwagon, with nearly half the buyers coming from that age bracket. All told, it’s also an experienced cohort. Buyers have a median age of 45, nearly two in three are married, and 64% are repeat buyers.
See the infographic below for more numbers.
