Prices are also climbing because supply remains tight in many areas. “The result is that the surrounding marketplaces of Marin, Napa, Sonoma and Contra Costa (counties) are seeing record activity in the form of both permanent residences and second homes. Skate Club, dies at 41, You have very legit, totally OK reasons for attending a big French Laundry dinner party right now, Pandemic patient with swastika tattoo leaves Nor Cal doctor questioning his compassion. The average sale price per square foot in San Francisco is $988, down 5.3% since last year. Bay Area home prices hit another record and sales surged in October, defying seasonal slowdown. The median listing price of a San Francisco home in August, at below $1.4 million, was the lowest since February 2019. Even in a soft market, buyers are facing stiff competition in some segments. A home with a pending sale on Grant Street in Berkeley Saturday. San Francisco's price-drop rate has held steady at above 24% in late summer, clocking in at 24.1% during the most recent period in Redfin's data--the four weeks ending Aug. 23, 2020. Homes in San Francisco receive 3 offers on average and sell in around 29.5 days. Sales were also robust, rising 1.5% from September and 18.9% year over year, the report showed. San Francisco condos are the Bay Area’s weakest real estate market. Single-family homes in the San Mateo, Burlingame and Hillsborough areas are selling “like crazy” but rentals are just sitting, he said. So why hasn’t the median price for a San Francisco condo shown a bigger drop? “It’s where you can get a single-family home in that $1.5 million range that’s going to allow for space, three bedrooms, a backyard, in a nice, safe community,” she said. When it comes to big financial decisions, she believes that the simplest answer is almost always the best and that people would stay out of money trouble if they didn't get involved in things they can't understand. Email: Twitter: @kathpender. Case-Shiller Home Price Index: San Francisco, CA is at a current level of 282.40, up from 278.68 last month and up from 266.65 one year ago. In San Francisco, the median price for a single-family home was $1.625 million in October, down 2.4% from February and down 1.5% from last October. The busy season was extended this year because mortgage rates hit another record low in October and the market is still playing catch-up from April and May, when sales fell off a cliff amid stringent shelter-in-place rules. Pender welcomes questions from readers and frequently answers them in her column. The median paid for an existing Bay Area condo was $740,000, down 1.3% from September but up 3.5% year over year. Kathleen Pender writes the Net Worth column in The San Francisco Chronicle. Sale prices have risen in the surrounding markets but San Francisco prices have remained very stable. High-dollar real estate sales in San Francisco hit over coronavirus, Proposition I concerns, Federal tax hit could take many unemployed people by surprise, Fannie-Freddie loan limit jumps to $822,375 in most Bay Area counties next year, S.F. A former bohemian mecca, San Francisco now lays claim to the most expensive housing in the West, with a median home price of $1.4 million. He’s often approached by agents who want to buy the homes, but neither he nor his clients want to sell and incur capital gains tax. (Zillow Home Value Index is seasonally adjusted and only includes the middle price tier of homes). Will it work? Pandemic-era supply and demand dynamics vary widely by property type, price segment and neighborhood. Strong sales, but dramatically rising inventory (and price reductions), especially in the condo market, make San Francisco a complex market. High-dollar real estate sales in San Francisco hit over coronavirus, Proposition I concerns, Federal tax hit could take many unemployed people by surprise, Fannie-Freddie loan limit jumps to $822,375 in most Bay Area counties next year, S.F. The median rent price in 94102 is $4,000, which is lower than the San Francisco median of $4,500. The best condo neighborhood was the Richmond District, where the average unit sold right at asking price; the weakest was Russian/Nob/Telegraph hills/Financial District, where the average unit sold for 7% less than asking. “I have three sitting on the market, beautiful homes, I can’t even get a bite,” Vigas said. It’s on Second Street by the ballpark. Email: Twitter: @kathpender. labs (title = "Distribution of San Francisco home prices", subtitle = "Nominal prices (2009 - 2015)", caption = "Source: San Francisco Office of the Assessor-Recorder\n@KenSteif & @SimonKassel") prices_mapped_by_year (Higher resolution) The movement of prices at $2 million and above move out across the landscape, almost with a contagion effect. California shuts down to curb coronavirus surge. Slack solves Salesforce’s biggest question, Shareholders sue Pinterest over alleged discrimination. San Francisco Home Prices; Prices announced for upcoming Yerba Buena Island luxury abodes. By 2015, these highest priced sale abut … The average sale price of a home in San Francisco was $1.41M last month, down 3.8% since last year. For one bedroom condos, the average price is down $15,000. Will it work? Home Sellers Slash Prices In San Francisco As Number of Houses For Sale Reaches Recession-Era Level. The median sale price of homes that sold during the period was up 6.6% year over year to $1.5 million, but this was well below the 11.4% increase nationwide. She explains how the big business and economic news of the day affect a household's net worth. Homes, not only does San Francisco already have the highest median home price of any major American metro area, but home prices in the city are increasing at a faster rate than any other large … It isn't exactly a secret that San Francisco is an expensive place to live. San Francisco Home Prices Are Highest In Nation And Getting Higher Fast (PHOTOS) By Aaron Sankin. Median home values in the broader San Francisco metro area, which includes surrounding areas such as Oakland, are up 77% over the past decade, Trulia says, from $534,800 to $946,700. Browse photos, see new properties, get open house info, and research neighborhoods on Trulia. As a result of this shift, the number of homes on the market in San Francisco surged 75% year over year during the four weeks ending Aug. 23, forcing sellers to cut prices, and giving buyers the upper hand. The median price paid for a San Francisco condo fell to $1.25 million in the third quarter, down just 2% from the third quarter of 2019, according to Carlisle. “Typically by September we should have the end of home-buying season,” said Oscar Wei, the association’s senior economist. San Francisco ranks no. BAY AREA HOME PRICE MAP - Compass This map generally reflects approximate median house sales prices around the greater San Francisco Bay Area for the 12-month period through mid-March 2020 (i.e.