High stock markets, low interest rates, surging luxury home sales, limited inventory, a spring full of unicorn IPOs, and San Francisco – once again -hits new highs in median home sales prices.
July 2019 Update
After 2 quarters of no or negative year-over-year home price appreciation, a confluence of positive economic factors sent San Francisco median home sales prices to new peaks in Q2. On a quarterly basis, the median house sales price hit $1,700,000 – $80,000 above the previous peak in Q2 2018 – powered by a monthly high of $1,770,000 achieved in June. For condos, the new quarterly median price peak was $1,250,00 – slightly above last year’s $1,235,000 – fueled by a new monthly high of $1,300,000 in June.
The market typically slows down significantly in San Francisco for the summer holidays through August before picking up again in September for a busy, though relatively short autumn selling season running through mid-November.
Median Home Sales Price Trends
![](https://genevarealestateintel.com/wp-content/uploads/2021/03/san-francisco-median-home-prices-hit-new-peaks-compass-q2-market-report.jpg)
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Sales & Prices by Property Type & Bedroom Count
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Average Dollar per Square Foot Analyses
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San Francisco Luxury Home Sales
Hit New Peaks in Q2 2019
The first chart below breaks out luxury homes as defined by houses selling for $3 million and above, and condos, co-ops and TICs selling for $2 million or more.
The second chart looks at all home sales of $5 million plus.
![](https://genevarealestateintel.com/wp-content/uploads/2021/03/san-francisco-median-home-prices-hit-new-peaks-compass-q2-market-report-6.jpg)
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Selected Supply & Demand Statistics
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Average days on market – all sales (chart 1), then broken out by property type and price segment (chart 2). Changing a pattern seen in recent years, Q2 2019 often saw the strongest buyer demand in higher price segments, instead of the more affordable price ranges.
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Sales price to original list price percentages by property type and price segment – these statistics generally mirror those seen above in the days on market analysis. Some of these percentages are stupendously high, reflecting torrid bidding competitions between buyers for appealing new listings.
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Percentage of Listings Accepting Offers
(i.e. Going into Contract)
![](https://genevarealestateintel.com/wp-content/uploads/2021/03/san-francisco-median-home-prices-hit-new-peaks-compass-q2-market-report-13.jpg)
Percentage of Active Listings
with 1 or More Price Reductions
![](https://genevarealestateintel.com/wp-content/uploads/2021/03/san-francisco-median-home-prices-hit-new-peaks-compass-q2-market-report-14.jpg)
The effect of over-pricing – as signified by price reductions prior to sale – on the average sales price to list price percentage, average days on market, and average dollar per square foot values.
![](https://genevarealestateintel.com/wp-content/uploads/2021/03/san-francisco-median-home-prices-hit-new-peaks-compass-q2-market-report-15.jpg)
Mortgage Interest Rate Trends since 1981
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San Francisco Bay Area Home Prices
by City, Town & Selected City Neighborhoods
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