It’s the ultimate question, and we get asked almost daily. I’ve actually been asked so many times that I have unintentionally developed a canned response, explaining how San Francisco is comprised of many different micro-markets and they all behave differently. What’s going on in South Beach isn’t what’s going on in the Sunset, ya dig?
Time to gain some perspective on the market
However, zooming out and looking at the City as a whole, we wanted to provide an answer to this broad question by looking at 14-year median value trends for all different property types (single family homes, condominiums, TICs, and lofts). Stock Cooperatives were left out because there were not enough data points to be particularly useful in the analysis. For single family homes and condos, there were thousands of data points, and for lofts and TICs, there were hundreds. So we have confidence in these medians. All data comes from the MLS so it represents open market transactions only (this is a good thing) and the resale market only (meaning it leaves out most new development sales, which is okay because if you’re an owner, the resale market should be what you’re concerned with anyway).
Now for the answer: Have prices come down in San Francisco? Read the rest of this entry ?
