Long-Term Trends in Median Sales Prices through YTD 2020
Annual Percentage Changes in Median Sales Prices through YTD 2020We have been getting many questions on annual percentages up and down in median sales prices, so we updated the following 2 charts. The 2020 YTD percentage will almost certainly change, one way or another, by the time full-year sales data is in.
Luxury Home Sales by QuarterQ2 is typically the strongest selling season for luxury homes, but the pandemic changed that dynamic in 2020. Though the SF luxury segment recovered in Q3, in many other counties around the Bay, luxury home sales have soared to all-time highs. Active inventory has been surging in recent months (first chart below), as has the months supply of inventory (second chart). As mentioned before, the supply of condos for sale is currently dominating SF inventory. Even if supply is outpacing demand, more listings went into contract in September than in any month in the last 2 years. But the number of price reductions – again heavily concentrated in the condo market – has jumped to its highest point in many years. In certain segments, sellers are now competing for buyers, instead of buyers competing for listings.
Median House & Condo Sales Price Trends by DistrictThe 3 charts below are focused on the districts in which the greatest number of house or condo sales occur. The first 2 refer to house sales and the third to condo sales. The post San Francisco: 7 Months After the Pandemic Hit | October 2020 Report first appeared on Paragon Specific.
“Thank you so much for everything. For making the process easier, for having a great read on the San Francisco real estate climate, understanding the neighborhood micro-markets. Thank you for your tireless optimism, enthusiasm and energy – the ultimate professionals who brought the personal touch we were looking for.”
“We have never come across such a professional team in the real estate industry in our experience in any city around the world in which we have lived… From the search, to the negotiation, to the closing, to the moving in and settling process, they went above and beyond the call to assure our extreme satisfaction and delight.”