A strong local economy coupled with high buyer demand fueled the San Francisco single-family home market in 2017 amidst a backdrop of concerns about things like the new presidential administration, North Korea and a possible real estate bubble.
2017 was basically a continuation of the 2016 market—high prices, multiple offers, extreme overbids, discouraged buyers and happy sellers.
The good news for homeowners is that the average price of a house in the fourth quarter of 2017 was almost $1.9M. The bad news—if you can call it that—is that the average price rose less than 2.5% over Q4 2016. Given that we’ve seen double-digit growth over the past few years, this minimal increase is worth noting as we head into 2018. Continue Reading