Houses in San Francisco may be expensive, but it can be worth every penny. San Francisco is home to beautiful landscapes and pleasant weather. It is known for steep rolling hills, eclectic architectures, cable cars, and the famous landmarks. Undeniably one of the world’s most desirable places to live.
San Francisco is the cultural and financial center of Northern California. It is a city that boasts diverse cultures. The city embraces the inclusiveness of race, gender, disabilities, and religion in all aspects of the community. It has an outstanding reputation for cultural freedom, prosperity, and diversity.
San Francisco is also home of major tech and internet companies such as Salesforce, Dropbox, Reddit, Dolby, Yelp, Pinterest, Twitter, Uber, Lyft, Mozilla, and Wikipedia to name a few. Silicon Valley ranks as one of the highest per capita income in the nation. The perfect place to search for your career in the tech industry.
Houses in San Francisco are beautiful, but costly.
Nearly all houses in San Francisco cost over $1M. That’s the price for the average housing, including single-family homes and condos. There were 20 house sales reported to MLS during the 12 month period with sales prices of $10 million+: 17 of these were in Pacific & Presidio Heights, Cow Hollow and Marina (District 7). The highest priced house sale reported to MLS during the 12.month period was in Presidio Heights at $24,950,000. The second highest was in Sea Cliff at $24,000,000.
Seasonality plays a significant role in supply and demand, median values, and luxury home sales. All of which commonly ebb and flow according to selling season. However, seasonality was upended in 2020 by the pandemic. It is typical for luxury condo, and townhouse sales to peak in spring, fall in summer, spike back up in autumn, and plunge in mid-winter. Sales in one month mostly reflect offers accepted in the previous month.
San Francisco is a beautiful city, however, it’s also an expensive city for most people. The limited inventory of houses have created a historically costly housing market. Many residents move to the suburbs in order to afford a home with a yard.
Generally speaking, houses in San Francisco continue to be extremely high demand. Condo markets, though rebounding strongly from mid-2020 lows, have seen somewhat softer dynamics, with large variations between neighborhoods. We have separate reports on the SF residential multi-unit markets. The market presents plenty of opportunities for all kinds of buyers. Home Appreciation is at all time high in the last 12 months.