My last post was about the fact that Noe Valley median home prices are still down 30% from their all time highs despite a smart recovery in median home prices city-wide. This, despite my sense that there seem to have been a burst of Noe Valley homes hitting the market in the $2 million range and above recently.
Horror Headline (just in time for Halloween): SF home prices down 24.8%!!!
Yup, that’s right folks. According to the well-known and well-respected Case-Shiller Index published by Standard and Poor’s, San Francisco home prices in July 2008 were down a whopping 24.8% from a year previous. How can this be, when you read right here that median prices were down YOY (year over year) a “mere” 11.3% in September (see Oct 23 blog below) and just 5.5% YOY for July 2008 — see my market trends archive.) More realtor fluffery, you huff, designed to make the credulous public believe that things are not so bad. ...
Just How Bad Is It? (Answer: depends)
I’ve been digging a bit deeper into the raw data that’s used to generate the beautiful graphs you can find here and which I used to generate the MLS District graphs in my blog of a few days ago.
So I thought I’d check how September 08’s median home prices (condos will come later) compared to their all-time highs and to the median prices of a year ago, both by MLS District and for all of San Francisco. I didn’t include District 8 (North-east) because it doesn’t have enough data to be useful, and I also didn’t include the southern-most districts of SF (3 and 10) because to be honest I don’t follow them closely. Here’s the result: ...