In Recovery? Home Buying and Selling in San Francisco: What is Up with Our Market?

Anthony Bourdain

First, I want to share a fun blog post on San Francisco & our crazy food culture. As a full-time Realtor and a part-time foodie, of course, I love Anthony Bourdain and his show, No Reservations. In case, you missed it, he recently visited SF (no, not for a home tour). Whether our obsessive, borderline militant, food-culture is appealing or just freaks you out, you'll enjoy this read: No Reservations San Francisco!

Now, for an update on our local real estate market. What's going on in the San Francisco real estate market? Is it true that there is a Seller's Market again? What should a home buyer do? If you've been considering selling your SF home but were afraid... Generally, what is up with our SF real estate market?

SF Real Estate District Map

SINGLE FAMILY HOMES DISTRICTS 1-10

• Over the past 6 months:
  • the median sales price for a single family home in San Francisco has increased 11%. Note: this does not mean that the value of your house has changed up/down. It means that, slowly, more expensive homes are beginning to sell again.
  • 37% more homes sold and 9% more went into escrow/contract, i.e. more homes are selling & market activity is up.

CONDOMINIUMS DISTRICT 1-10

• Over the past 6 months:
  • the median sales price for a condominium in San Francisco has increased 1%. Note: Not as dramatic a pick-up as in the single family home market but we are significant seeing signs of life! See next line.
  • 34% more condos sold and 10% more went into escrow/contract.

We are so lucky to live in San Francisco. Yes, we have felt the downturn. We are not immune. However, if this is how we have handled the worst economy since the Depression, I am quite happy that I both own and sell real estate here! For you skeptics, yes, I know we're not out of the woods yet. In fact, I tend to agree with the economists, like Shiller, who think we won't see significant appreciation for some time.

Yet, our local market IS picking up and in recovery as they say. It has become a seller's market again in certain segments. IF it is the right time for you financially, emotionally, and psychologically, then this is the time to take the plunge whether you are getting into your first home or wanting to trade up, down, or out.

Questions about this or other real estate-related things (or even about all things foodie)? Ask us!