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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U.S. House Prices Are Up, But Next Quarter Will Really Tell the Story

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Thanks to a global pandemic, the first quarter of 2020 has been bananas. Still, a recent report from the Federal Housing Finance Agency (FHFA) puts housing prices nationally up 1.7 percent and a full 5.7 percent over the first quarter of 2019. So what’s the deal? Pre COVID-19 According to the report, the uptick in first quarter home prices can be chalked up to falling interest rates and small inventories. Here’s the caveat — there’s a lag between contract signing

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Let’s Try Some Good News for a Change

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It’s been a long, largely negative news cycle over the last two months, and we’ve covered what you should do if you can’t make rent or mortgage payments, whether you can sell during shelter-in-place orders, how a pandemic changes real estate, raw data, and even guided meditation. Now, I’m sharing some good news for a change.  An Upward Trend Over the last two weeks, the number of homes going into contract in 17 Compass markets has trended upward. I share

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