How’s the San Francisco single family home market doing in this economy, you ask? Well, it’s a mixed bag. Overall, our market is holding up VERY well. Kiss your sidewalks, folks.
There is some price depreciation in areas but it’s minimal as compared to the greater Bay Area, California and certainly nationwide.
August 08 v August 07 shows an overall median single family home price decrease of 7.4%. Of course, 2007 was already past the peak so prices may be down more than that from the top of the market.
However, keep in mind that these numbers can be VERY skewed. Some districts have so little inventory that one big or small sale throws off the numbers completely.
For example, there was only 1 sale in all of District 8 in August of 2007 and only 3 in August of ’08!
If you want to know specific sales prices in your neighborhood, send me an email and I’ll get that info to you asap. No obligation, of course.