Single family home values continue to perform particularly well, with many neighborhoods seeing purchasers paying significantly over list prices. The middle one-third of the market ($1MM-1.5MM) saw the greatest pressure, with purchasers paying 14% over list prices. Last month's single family median sale price increased 7 percent, as compared to the previous year. Median market time also improved, measuring at just 3 weeks, versus 4 weeks the year before.
Condominium performance, on the other hand, has been fairly muted. This is likely due to the roughly 1,100 new condominiums on the market, as compared to just 450 units a year ago. Condominium appreciation will likely improve as the number of available condominiums is projected to decline by half, by the start of next year.
MEDIAN SALE PRICE
MEDIAN NEIGHBORHOOD VALUES
Condominiums
Single Family Homes
TOP FIVE SALES
Condominiums
During the past month, the top five condominium sales ranged from $6.9 million to $2.6 million, with most offering about 2000 +/- SF living space and 1 car parking.
Single Family Homes
The top five San Francisco home sales during the past month ranged between $5.375 million and $4.5 million.
