The overall Q1 2016 median sale price rose six-percent quarter-over-quarter to $1,160,000, while the number of sales declined by twelve percent. The top ten percent of the market (> $2.325MM) saw five-percent growth in the median sale price, and properties in this category took about a week less to sell than the overall market. On the other end of the spectrum, single family homes in the Southwest section of the City have seen median home price appreciation north of 25% quarter-over-quarter.
The local economy continues to prosper, with recent unemployment figures clocking in at 3.3%. The Wall Street Journal recently reported that US Venture Funds have collected about $13 billion in the first quarter, the largest total since 2000. It is anticipated that there will be a number of technology IPOs this year, depending on stock market volatility.
