The big political issue facing the market is CA Prop 10, which, if passed in November, repeals the limits on local rent control laws enacted in the Costa-Hawkins Rental Housing Act. This would almost certainly have negative ramifications for owners of multi-unit residential properties in San Francisco and Oakland. The CA Legislative Analyst Office does a good job summarizing the issues: Prop 10 Review. Prop 10 is currently creating something of a shadow on the larger apartment building market,
As we step into the autumn market, let’s take a look in the rear view mirror and review year-to-date stats as the final quarter of 2018 unfolds. Any questions or needs, let us know!
September is typically the single month with the highest number of new listings coming on market in San Francisco, a big spike in inventory which fuels the relatively short autumn selling season. » Read more about: San Francisco September Newsletter »
We are pleased to announce that Paragon Real Estate has joined forces with Compass in order to deliver a new level of support and service for our clients. Founded in 2012, Compass is a real estate technology company now operating in 30 regions with over 90 offices across the United States, including New York City, San Francisco, Los Angeles, Chicago, Boston, Seattle, Washington D.C., Dallas and Miami. With the merger, the Compass Bay Area team consists of more than 500 agents closing more than $4.5 billion in annual sales volume.
Check out our June Newsletter – A review of the Bay Area Market by County and Product Mix. Hope you enjoy this update. We are always here to address any questions and assist with any real estate needs.
The county and city appreciation percentages in the chart above were calculated by averaging changes in both median sales prices and average dollar per square foot values. We also incorporated S&P Case-Shiller SF metro area calculations based upon its algorithm breaking the market into thirds by price segment. » Read more about: Bay Area Market Survey: From Billionaires in Mansions to Flippers & Fixer-Uppers »
Let’s take a look at the Hottest Neighborhoods in SF. Check out the map provided in the overview. The neighborhoods and districts circled on the map have seen compound annual appreciation rates of 12% or more over the past 6 years. And the highest rate in San Francisco over the same period was 18% in the Bayview. The market remains strong with limited inventory. Have a question, contact us anytime.
Before discussing neighborhood values, » Read more about: SF Residential Newsletter: Hottest SF Neighborhood Markets »
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.