Every year we publish an in-depth look at San Francisco and the Bay Area told almost exclusively in charts. The focus is not on real estate but rather on who we are, what we do, what we believe in. While some of the charts simply confirm widely-known data– for example, that Asians as a group represent the largest minority in San Francisco (33.5%) — others reveal the most obscure and amazing things. For example, did you know that there are almost as many dogs in San Francisco as there are trees? Coincidence you say? You can find all 32 charts, with links to dozens more, here. I’ve cherry-picked some of my favorites below (Click the charts to expand them).
2017 is a wrap, and it’s been another solid one for residential real estate in the City by the Bay. For anyone so inclined you can read our full report — complete with over 41 charts— here. For those with less than a couple of hours to kill, I’ve sliced and diced the juiciest parts below.
2017 was the seventh year in a row that the median price for a single family home in San Francisco increased. It’s now over $1.4 million. After taking a breather for the last couple of years, condominium prices also resumed their climb: their median price is $1.150 million. Our data indicates that fourth quarter prices for both homes and condos are already above these figures.
The weather is turning chilly. While most of us were enjoying a surfeit of food with friends and family indoors last week, the Bay Area’s homeless were struggling to stay warm. I’ve lived in this city for over 30 years, and the only other time I can think of when homelessness was this visible occurred during the mid-1990’s, before the dot com bust. Then, like now, the city was doing well.
I wanted to entitle this newsletter “Winter is Coming,” but decided that comparing buyers to the Dead Walkers might not go down well. Besides, it’s buyers that have been getting the short end of the, um, spear for years now. Prices really took off in 2012; with inventory relentlessly low (see my previous newsletter, it’s been a seller’s market ever since.
But everything slows down in winter. There’s (even) less inventory, and buyers — being human — batten down the hatches from approximately Thanksgiving through early February. Who wants to be out house-hunting when the weather’s turned cold and dreary? Besides, everyone is either preparing for or recovering from the Holidays.
As I was getting ready to send out yet another newsletter showing further year over year gains in home prices(see first two charts below for single family homes and condos, respectively), I took a closer look at a chart that focuses on the supply side of the supply/demand equation.
“New Listings Coming On the Market” is the simplest indicator of how many homes are being put up for sale in any given time period. Take a look at the chart below, which tracks new listings (homes, condos, etc.) on a rolling 12 month basis.
Market and Transaction Resources
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- Rent vs. Buy Calculator
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- Glossary of Real Estate Terms
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About San Francisco
Schools & City Services
- SF Unified School District
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- SF City Govt. Information
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- Look-Up Permits & Zoning
- Planning: Know Before You Buy
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- 25 Planning Dept Maps
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- USGS Susceptibility Map
- Interactive Earthquake and Other Natural Hazards Map (ABAG)
- Natural Disaster Preparations
- San Francisco Rent Board
First, a big thank you to everyone who responded to my RealDataSF Poll about how to make this newsletter better. This month’s topic is a direct result of your input, as information about tax-related topics was among the top 3 subjects my readers wanted me to cover in addition to market news (the other two were investing in and renovating property).
Some other quick results: Continue reading
Today’s NY Times talks about the California housing affordability crisis and how the state is considering legislation to make it harder for opponents of developments to create roadblocks to projects that otherwise fit within a locality’s zoning laws. There’s finally a movement of “YMBY’s” That are saying “yes” to greater density – which is really the main issue – because they understand that sprawl is the enemy of the environment in so many ways. In San Francisco, that’s resulting in projects that, for example, don’t require parking for each unit – a recognition that younger buyers are abandoning cars in favor of car-sharing and public transport. Continue reading
In last month’s newsletter, I said that initial signs pointed to a newly robust Spring housing market after evidence that prices had flattened somewhat — especially for condominiums — in 2016. The data gathered through May confirms that conclusion.
The median house sales price jumped to $1,500,000, its highest point ever, about $100,000 (7%) above its previous monthly peak. The SF median condo sales price also hit a new peak at $1,200,000, $20,000 (1.7%) above its previous high. Continue reading
JUNE 08, 2017
(*But were afraid to ask!)
ABOUT THE TOPIC
Join Misha Weidman, J.D., Broker Associate and Attorney at Paragon Real Estate Group, for a lively and informative discussion about the essentials of buying a home in San Francisco. Here are just some of the questions he will address: Continue reading