Off to the Races
In 2018, San Francisco’s median house sales price was $1.6 million. That’s an increase of 13% over the previous year. Meanwhile, the median condominium sales price increased about 5% to $1,210,000.
If the chart above was the only one you consulted on SF real estate, you could be forgiven for thinking that since the 2012 recovery from the Great Financial Crisis, the city’s real estate prices have been rocketing inexorably upward.
But you’d be wrong. As Mark Twain said, quoting Benjamin Disraeli: “There’s lies, damn lies, and statistics.” In 2018, the year had two very distinct halves. And if you don’t look at the statistics for those two halves, you’ll miss the real story here – which is that single family home prices fell precipitously over the last two quarters. The chart below shows price changes by quarter. ...