Category: Market Trends

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The San Francisco Residential Real Estate Update: An Ai Generated Glimmer of Hope?

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An AI Generated Glimmer of Hope

Back in May 2018, when pundits everywhere delighted in sounding the death-knell for SF’s residential market due to a host of local challenges including lack of affordability and rampant homelessness, I suggested they might be a bit premature. In the summer of 2020, months into the Covid pandemic, Zillow published data suggesting that SF was again on the skids.  Again, I suggested that “this too shall pass.”  Condo and home prices proceeded to hit record highs until 2022 when higher interest rates brought the real estate party to a stop, leaving a hangover from which much of the Bay Area — indeed the country as a whole — has yet to recover. ...  Additional Details

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San Francisco’s new “COPA” Law could turn Owners of 3+ Unit Buildings into, um, Sausage

“Coppa” with two “p’s “ is a delicious dried pork salume of Italy and Corsica.  “COPA” is a new SF law that requires owners of buildings with three or more residential units to give a right of first offer and a right of first refusal to a designated set of non-profits before they can sell their building to a third party.  If a seller fails to comply with the statutory requirements, they may well feel that they’ve been through the COPA meat-grinder.  Penalties can include disgorgement of profits and a fine equal to 10% of the sale price they received. ...  Additional Details

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Bay Area Housing Affordability: A Grab-Bag of Charts

In my July Newsletter, I did a wrap-up of the year so far and concluded that the market, for the moment at least, seems to be going sideways. Post Labor-Day inventory has already shown a big jump in anticipation of the short buy/sell season between now and the end of November. It’s too soon to say whether the new inventory will excite buyers to loosen their wallets or simply cause them to be pickier.

So with the market on “pause,” I thought I’d put together a grab bag of charts that cover SF housing affordability, both from the standpoint of owning and renting. Many view housing affordability as a central concern for San Francisco’s long-term future. Changes in the rental ...  Additional Details

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Real Data SF July Newsletter

Mid-Year Report – A Soft Landing For San Francisco Residential Real Estate?

With the data in for the for the first six months of 2016, the cooling trend that I’ve noted in recent newsletters is increasingly clear. Since sales typically dip in the middle of summer due to seasonal factors (everyone, especially those who own or are looking to buy higher end homes, is on vacation), it’s best to compare 2nd quarter results with those of a year ago.

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In Q2 2016, the year-over-year appreciation rate was 4% for houses and less than 1% for condos, as compared with 2014 to 2015 rates of 20% and 18%: A significant slowdown. However, median home prices are still at their highest point ever. ...  Additional Details

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Mapping the Spread of the Million Dollar Home in the Bay Area

Thanks to my well-read friend at The Economist for sending me this fascinating infographic.

You can find the full article here at The Atlantic. Their choice of Westwood Park as their poster-neighborhood is an interesting one. On the one hand, it’s a tiny area tucked in to the west of City College between Monterey and Ocean Avenue and it’s not exactly a household name, even to longtime SF denizens. On the other hand, the statistics are impressive: four years ago, according to the article, just 2.9% of its homes cost $1 million or more. Today, 96% of them do. ...  Additional Details