It was a summer of withdrawn listings, buyers flocking to single-family homes and rising one-bedroom prices. Though San Francisco real estate was a little slower this summer, there were a number of takeaways that I think will set the tone for the busy Fall season:
Prices remained strong for houses and condos. The average price for a house in the June-August timeframe was $1,695,454, and around $1,200,000 for condos.
Houses were hot. If you had a house to sell in San Francisco this summer, chances are you did pretty well. Almost one quarter of all houses sold this summer changed hands for more than 20% over the list price, and 17% of all houses sold were paid for in cash. I’m aware of at least a dozen houses that ended up getting 25+ offers in neighborhoods like Bernal Heights, Glen Park, and other popular areas. Continue Reading