10 Years of San Francisco Condo vs. House Appreciation
A managing broker at Zephyr RE (thank you Matthew!) put this graph together a few days ago, and I thought I would share it with you. The graph compares the median price for condos and single family homes over the last 10 years. It is interesting because it shows that condominiums have had a higher percentage increase in value then houses in terms of their median price.
In many parts of the country, condos are seen as the choice of last resort, and not a type of property buyers want to purchase unless they have to. Here in San Francisco, the numbers are saying many buyers would rather have a condominium over a single family home. There can be many reasons for this, and I think one may be that people like the convenience of having a turn key property that has a management system in place for upkeep, maintenance, and security.