2018 was another banner year for San Francisco. On a year-over-year basis, the median sale price rose 13% for single family homes; the largest annual dollar increase ever (not adjusted for inflation), which was largely driven by market conditions at the beginning of the year. Similarly, the price per square foot rose over 7% to a median of $958. Eight out of ten single family homes sold over their list price for a total of 116% total list price received. The median market time remains unchanged since 2017 at 14 days. A total of 2,218 single family homes were sold in 2018, which is comparable to last year’s number. Currently, there are 143 single family homes listed for sale in San Francisco, ranging from $598K to $11.9MM.
Condominiums and TIC's
Looking at condominiums and TIC, the median sale price increased by nearly 5% on a year-over-year basis to just over $1.2MM. Six out of ten condominiums/TIC sold over their list price for a total of 106% list price received. The median market time decreased by 17% to 19 days. There were 3.5% more condominiums/TIC sold in 2018 than 2017, at a total of 2,919. There are currently 310 condominiums/TIC listed for sale in San Francisco, ranging from $320K to $19.5MM.
MEDIAN AREA VALUES
For past San Francisco market updates, please visit Vanguard Properties' archive.