Buying a house in San Francisco this past year demanded deep pockets, as the average price for the 674 houses sold was $1,513,641. Most notably, 59% of sales clocked in at more than $1M. That means buyers and their agents seeking homes in the sub-$1M range were the ones bemoaning the lack of inventory.
The luxury market ($2M+) didn’t get a breather, either, with 19% of sales closing in this range.
Cash buyers weren’t shy, accounting for about a quarter of house sales. Continue Reading