As illustrated above, the market for homes selling for $2 million and above has cooled somewhat over the past year, with the number of active listings climbing, the number of sales dropping, and a big jump in the quantity of listings expiring without selling. This is a general trend in markets around the Bay Area: Not a crash, but a softening of demand amid an increase in luxury homes for sale.
Luxury Home Market Trends Comparing Q3 Sales Data,
Since the market recovery began in 2012, various districts have taken the lead as the hottest markets in San Francisco: The affluent and prestigious Noe-Eureka-Cole Valleys district and Pacific Heights-Marina district led the recovery out of recession. Later South Beach/SoMa, Hayes Valley and, especially the Mission, went white hot as the high-tech boom surged (though, honestly, high appreciation rates became general throughout the city). In mid-2015, price appreciation in many the more expensive and fashionable districts started to slow down and plateau.