About six weeks ago we wrote about our observations that the high end of the market is hurting while the low end is experiencing a mini-boom. We now have more evidence that this trend is taking place.
Terradatum, a company that crunches and publishes real estate statistics, puts together a list of spreadsheets and sends it out to the SFAR (San Francisco Association of Realtors) each month. We borrowed some data from Terradatum’s most recent email blast and built our own graph. We were interested in seeing how San Francisco’s housing market has changed over the past two years.
How badly is the luxury market hurting?
First, we took the median list price for single family homes in the City and plotted the monthly points over the past two years. Then we took the median sales prices for single family homes in the City and plotted those monthly points over the past two years. The results were pretty nifty. Not only did we find a trend, but we actually identified the cross-over point… the point in time where the luxury market started to recede and the low end of the market began to pack more oomph. Read the rest of this entry ?
