San Francisco Housing Market Soft Landing
Every year in August and December I hear the same question; are San Francisco real estate prices going down? I’m not sure how it is in other markets but here in San Francisco the end of Summer and the end of Fall have consistently brings a slow down in the housing market, and this year doesn’t seem any different.
Historically, this time of year has been a good for buyers as sellers grapple with the uncertainty that any slowing creates in the market because who is to say what will happen in the New Year?
Sometimes it can be helpful to take a look at the numbers, and I think the chart above can give some good insight into the long term trends. In aggregate the market continues to go up, but the trend line is flattening out.
January to February 2018 saw a 27% jump in the median sale price!
Since February the median sale price has been edging down but it is still higher than it was in October of last year.
The median sale price went up 12.5 % from October 2016 to October 2017, and then just 1.59% from October 2017 to October 2018.
If you are considering a purchase, now is a great time to get in the market and at least take a look. Get in touch and I’ll be happy to point out the deals in the neighborhoods you are interested in. Get in Touch!
If you are considering selling your home, let’s talk now and discuss what fixes/upgrades would give you the best return. It is great to have the time to get ready before the market restarts at the end of January. Let’s Talk!