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Home prices up 6% year to date in San Francisco

by sfishome on November 16, 2007

Dataquest’s October numbers are out… San Francisco’s total homes sold did decrease by 8.2% but that is far less of a decrease than the 35.7% for the entire Bay Area. In addition prices have gone up by 3.9% over the same month in 2006.

For year to date figures, notice below that since Q1 prices are up 6%. That’s extremely solid growth in what the media continues to call are terrible market.

On the other hand, even city-only numbers are far too broad to determine how your home has done in this market. Some segments of the market are very hot, like the $2 to $4 million range in neighborhoods like Pacific Heights and Cow Hollow. The higher end market may in fact be lifting overall figures because many homes priced under $1 million in some other neighborhoods are virtually not selling at all at any price. So take the following numbers, as with any generalized number, with a grain of salt, and feel free to email me for a free “CMA” or Comparative Market Analysis for your home.

Here are this year’s stats per DataQuest:

Jan ’07 – Median Price $750,000 – up 0.7% over Jan ’06
Feb ’07 – Median Price $757,500 – up 2.4% over Feb ’06
Mar ’07 – Median Price $753,000 – down 2.1% over Mar ’06
Apr ’07 – Median Price $790,000 – up 1.4% over Apr ’06
May ’07 – Median Price $835,000 – up 8.4% over May ’06
June ’07 – Median Price $825,000 – up 4.4% over June ’06
July ’07 – Median Price $799,000 – up 3.1% over July ’06
Aug ’07 – Median Price $822,000 – up 7.8% over Aug ’06
Sept ’07 – Median Price $773,500 – up 1.9% over Sept ’06
Oct ’07 – Median Price $795,000 – up 3.9% over Oct ’06

So prices remain strong in San Francisco overall. On the other hand, a similar look at other counties will show that Solano, Sonoma, Napa, and Contra Costa counties are struggling mightily.

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