In case you’ve been living under a rock, our country’s financial system has undergone radical change during the past five months. The pace at which change is occurring is akin to a forest fire. We’re hoping for a fast burn that clears the way for new growth. At this time, however, the fire’s still going. Maybe not quite as strong as it was at climax, but definitely still going.
Because of the rapid changes going on, we crave the freshest information. In the interest of seeing what’s going on right now, we created an analysis that you may find veeerrrry interesting. Here’s what we did:
- List out all the sales that have occurred in San Francisco’s 10 MLS districts from October 1, 2008 to March 1, 2009 (that’s five months worth of sales).
- Find the median sales price in each district over this period. Record it.
- Follow steps 1 & 2 for each district over the same time period going back to the year 2003.
- Find when prices peaked for each district.
- Calculate how far prices have fallen from peak.
- Rank the 10 districts based on performance over this period.
*Please note: You’ll need to familiarize yourself with THIS map in order to understand the MLS districts. All sales come from the MLS. These do not include private transactions or sales taking place at new developments. All numbers were adjusted for inflation to control for the changing value of the dollar. This helps us gain better insight into true market behavior. Property types included in the analysis include single family homes, condos, TIC’s, lofts, and stock cooperatives.
Now that you know the method, how about those results?