12 Feb 2018

Bay Area Real Estate Market Survey

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One cannot draw many conclusions regarding the 2018 market by looking at January data, whose low volume of sales mostly reflects offers accepted in December. However, so far, it appears that the dynamic of low inventory and strong buyer demand is continuing in 2018. Typically, many more listings start pouring onto the market in February and March, and once spring selling season data starts coming in, we’ll have a clearer picture of how the year is shaping up.

The data point I find most interesting, and one that explains why prices are as they are, discusses the decline in active listings. This chart shows that there has been a 40% decline in properties for sale over the past five years. The decline in active listings available to purchase has played a significant role in pressurizing the market in recent years, especially as buyer demand has increased over the same period during which supply has dropped. This is the classic supply and demand paradigm.

If you do have the funds to make a purchase, the following charts will let you know where your money will go the furthest.

Bay Area Q4 2017 Median House Sales Prices

San Francisco Bay Area Median Home Sales Prices

Bay Area 2017 Median Condo Sales Prices

San Francisco Bay Area Condo Median Prices

Year-over-Year Home Price Appreciation Rates
Comparing 2017 Median Sales Prices to 2016 Prices

San Francisco Bay Area Home Price Appreciation

Average Dollar per Square Foot Values

San Francisco Bay Area Dollar per square foot values



These analyses were made in good faith with data from sources
deemed reliable, but may contain errors and are subject to revision. It is not
our intent to convince you of a particular position, but to attempt to provide
straightforward data and analysis, so you can make your own informed decisions.
Median and average statistics are enormous generalities: There are hundreds of
different markets in the Bay Area, each with its own unique dynamics. Median
prices can be and often are affected by other factors besides changes in fair
market value, and longer term trends are much more meaningful than short-term. It is impossible to know how median
prices apply to any particular home without a specific comparative market
analysis. All numbers in this report are to be considered approximate. 

© 2018 Paragon Real Estate Group


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