As we often say, San Francisco luxury real estate is expensive, complex, and important. In so many ways, we stand out from the crowd.
In addition to national and regional trends, our position as the world’s leading source for innovation is a driving force in our real estate. At once insulated by and at the mercy of our megalithic tech sector, its explosive growth has created massive equity for homeowners and priced out many would-be buyers.
Case in point: This June, while prices declined around the country, San Francisco’s actually rose. Around the Bay Area, median sales prices dropped 8.1 percent from last year’s totals. SF was just the opposite, up 8.8 percent from June 2018. We even reached record highs in price per square foot and luxury market sales.
After much debate earlier in the year, it’s clear now that the glut of big tech IPOs made waves after all. Last month was yet another example of why San Francisco luxury real estate is one of a kind. Though our overall market has cooled along with rest of the country, we remain uniquely complex and competitive (not every city sees a sudden influx of $188.5 billion).
As we continue to navigate the ever-changing landscape of SF real estate together, it’s our pleasure to share these insights with you. If you’re thinking of buying or selling, let us know how we can help. We’d love to be of service in any way we can!