Are you curious about our Luxury Market in San Francisco? Let’s take a look into the detail. There are many factors that affect our local market – political and financial markets, interest rates, the course of the high-tech boom and future IPOs, etc. As we move into 2018, the San Francisco market appears to be off to a heated start characterized by robust demand and limited inventory, a dynamic that has driven our market for most of my career. » Read more about: San Francisco Luxury Home Market Report »
Greetings. Our February newsletter covers the bay counties including San Francisco, Marin, Alameda, Contra Costa, San Mateo, Santa Clara, Sonoma, Napa & Solano. It provides information on median home prices, appreciation rates, luxury home markets, demographics and other market factors, conditions & trends. Given limited inventory in January, this newsletter provides a look through the rear-view mirror into 2017 activity. We’ll have a better idea regarding where the market is heading in 2018 once the spring selling season data starts coming in. » Read more about: A Survey of San Francisco Bay Area Real Estate Markets »
The median SF house sales price in 2017 was $1,420,000 (up from $1,325,000 in 2016), and for condos, it was $1,150,000 (up from $1,095,000). Looking just at the 4th quarter, median prices were $1,500,000 for houses (up from $1,350,000 in Q4 2016) and $1,185,000 for condos (up from $1,078,000) respectively.
The chart below,
The October 2017 median house sales price in San Francisco surged over $100,000 above the previous peak in May to hit a new high at $1,588,000 (sales reported by 11/5/17). A major factor was that October was a record-breaking month for luxury house sales, and more sales of expensive homes pull up the median price. The median condo sales price, at $1,180,000, was a tad below the recent peak hit in August, and luxury condo sales reported to MLS were well below their peak sales volume reached this past June.
Year-over-year, a low inventory homes market dropped even lower, while buyer demand increased to keep the pot boiling in San Francisco through the third quarter, when activity typically cools down between the spring and autumn selling seasons. Since closed sales in each month mostly reflect the market heat in the previous month, when the offers are actually negotiated, we will not have hard data on September until October sales data becomes available in November.
Generally speaking, late summer market dynamics (or, for that matter, during the mid-winter doldrums) are not of great significance and do not tell us much about where the market is heading. September, however, is usually the single month with the greatest number of new listings hitting the market in San Francisco, and that surge fuels sales through mid-November, when activity begins to plunge. The coming two months will be the next major indicator: Will the SF market continue to maintain the intense high-demand, » Read more about: A Hot Autumn Market in San Francisco? »
Out of town guests are arriving, the kids are hungry, the dog is restless, or you are just lying on the couch reading email and need something to motivate you to get up and out of the house.
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Which counties are most expensive or most affordable, have the highest overbidding and appreciation rates? Which are healthiest, most educated, have the highest incomes or worst poverty percentages? What cities have the biggest, most expensive homes? And where do Bay Area residents come from?
August 2017 Report
Median House Price Appreciation since 1990
Appreciation trend lines are largely similar across the Bay Area, but some counties have outperformed others. Solano is still well below its previous peak price ten years ago, » Read more about: Bay Area Home Prices, Incomes & Demographics »
After hitting new monthly highs in May, San Francisco houses and condos hit new quarterly peaks in Q2 2017. However, median house price appreciation, $100,000 above its previous high, has been more dramatic over the past 2 years than median condo price appreciation, which has mostly plateaued due to the surge in new-project condos coming on market. As illustrated above, it is not unusual for median prices to peak for the year in Q2, and a significant part of this dynamic,
As Buyers Compete for an Inadequate Supply of Home Listings,
San Francisco Median House Sales Price Soars to $1,500,000 in May
June 2017 Report
Home price appreciation, overbidding asking prices, supply and demand
dynamics, the SF luxury home market & new housing construction
Three Views of SF Median Sales Price Appreciation
Monthly House & Condo Median Sales Prices since 2012
We are not that enthusiastic about using monthly median prices,