Home Prices, Market Conditions & Trends in San Francisco—A September 2021 Update

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Since spring of 2020, we’ve seen five major market movers in San Francisco. Let’s get to it. Unusually High Household Movement Chalk it up to population density, housing and living costs, family and quality of life concerns, or new wealth, but whether the pandemic was the catalyst or not, the work-from-home movement exploded over the last year and a half and many people are betting it’s here to stay. The number of buyers for first homes, bigger homes, and luxury

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How Much Do You Need to Make to Buy a Home in San Francisco?

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Wondering what you need to earn to buy a median-priced, single-family home in San Francisco or its neighboring counties? A new report from Compass looks at that figure, breaks down the median monthly expenditures, and touches on affordability issues in the Bay Area. An Annual Income of $300,000+ Residents in San Francisco need to earn an annual income of $350,000. In San Mateo county, it’s close to $400,000. Compare that to the California average of $150,800. The numbers are up

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Instead of the Standard Mid-February Inauguration, San Francisco’s Spring Selling Season Started in January

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And that means it’s time to check in with the numbers. New listings are up 10%, pending sale are up 95%, and luxury house sales are up 87%. For those of you that can’t get enough data, below are a few of the charts outlining a few of the highlights. Annual Median Bay Area House Sales Price Yes, even during a pandemic, San Francisco real estate prices climbed. While the median house sales price wasn’t quite as impressive as in

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Median vs Average Sales Price: Why it Matters

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Last week, we shared data for San Francisco’s housing market during 2020 with a cautionary takeaway reminding readers that context is everything and some data points are better than others. Here’s the difference between median and average statistics and why you should ignore average sales prices.  Old Math Classes Revisited Think back to your college statistics class — average and median both measure central tendency, but huge or tiny observations can skew averages significantly. I mentioned this in my last

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Looking Past the Headlines: What’s Really Happening in San Francisco Real Estate

News articles and blog posts about San Francisco have recently quoted real estate “experts” espousing everything from inventory being up to nine-year record inventory levels, to the all-time-high median sales price we just hit, to the well-documented stampede out of the city as working remotely became the new normal. And the truth is there’s evidence that real estate in the San Francisco Bay Area is doing all three — rebounding impressively, building inventory, and seeing price reductions creep up. But on

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