Mid-Year Housing Report

A Very Hot Spring

After hitting new monthly highs in May, San Francisco houses and condos hit new quarterly peaks in Q2 2017. However, median house price appreciation, $100,000 above its previous high, has been more dramatic over the past 2 years than median condo price appreciation, which has mostly plateaued due to the surge in new-project condos coming on market.

However, this is not a one-size-fits-all assessment of the market, as it includes the volume of condos flooding onto the market from new construction, mainly in SoMa. When you look at individual neighborhoods, the data can be very different. For example, check out what is happening in the central districts of Eureka and Noe Valley as well as Duboce Triangle specifically.

In other words: Location, location, location. If you're set on living in District 5, be prepared to pay a premium for it.

San Francisco home appreciation houses vs. condos

More expensive home sales closed in Q2 than in any quarter in the past. Which leads to our next chart:

San Francisco Luxury Homes Sales 
by Month since 2014

San Francisco Luxury Homes Sales 
by Month since 2014

Sales of luxury condos surged dramatically this spring to hit their highest number ever in June on a monthly basis, and in Q2 on a quarterly basis. Luxury house sales of $3m+ also barely exceeded the previous quarterly high in sales, but its component months were well below earlier monthly peaks. Note that condo figures do not include new luxury condo sales unreported to MLS.

Building Cranes Everywhere

Approximately 64,000 housing units, 31 million sq.ft. of commercial space & 25 hotels with 4685 rooms are now in the SF new construction pipeline - 
with 5700 units, 10 million sq.ft. and 5 hotels currently under construction. San Francisco New Construction Breakdown

SF Neighborhood Home Prices & Trends

House & Condo Prices by Bedroom Count

San Francisco 4 and 5 bedroom house values

San Francisco 3 bedroom house values

San Francisco 2 bedroom house values

Appreciation Trends since 2005 for Selected San Francisco Neighborhoods

San Francisco Potrero Hill, Bernal Heights and Inner Mission house values

San Francisco Noe, Eureka, and Cole Valley house values

San Francisco Sunset, Parkside and Golden Gate Heights house values

San Francisco South Beach Condo values

Sales by Price Segment within Neighborhoods

Median sales prices typically disguise a wide range of prices in the underlying individual home sales, which is what these charts illustrate.

San Francisco Pacific & Presidio Heights, Cow Hollow, and Marina house values

San Francisco Russian, Nob, and Telegraph Hills, North Beach, and Waterfront house values

San Francisco St. Francis Wood, Forest Hill, and Monterey Heights house values

San Francisco Lake Street, Richmond, and Lone Mountain house values


It is impossible to know how median and average value statistics apply to any particular home without a specific, tailored, comparative market analysis. In real estate, the devil is always in the details.

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 San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.

© 2017 Paragon Real Estate Group