Home Sales by Property Type
In San Francisco, the number of condo sales recently overtook the number of house sales — a consequence of the huge amount of new condo construction in the greater South of Market area of the city over the past 15 years. However, in the 3 North Bay counties, house sales still make up the huge majority of home sales.
Real estate statistics in the Bay Area are based upon that relatively unique basket of homes that happen to sell within any given period, and so instead of being exact measurements applicable to specific properties, they should be considered indications of the direction and approximate scale of market trends.
Median price is that price at which half the sales occurred above and half below. Median prices and other value-related statistics can fluctuate for other reasons beside changes in value, such as seasonality, financing conditions, available inventory, variations in buyer profile, and changes in the distressed and luxury home markets. In those areas significantly affected, distressed-property sales exaggerated the decline in home values for non-distressed homes, and now, as the distressed segment rapidly declines, the increase in home values may be similarly exaggerated. Short term fluctuations in statistical measurements should be taken with a grain of salt until substantiated over the longer term.
These analyses were performed in good faith with data derived from sources deemed reliable, but they may contain errors and are subject to revision. Please don’t hesitate to contact us with any questions.