clock menu more-arrow no yes mobile

Filed under:

San Francisco's Median Home Sale Price Is Now Up to $1.16M

All of the home sale stats are in from the first half of 2015, and they're just as scary as you might expect. The median home price in the city has now risen to $1.356 million, up from $1.1 million at the same time last year, according to the latest analysis from Paragon Real Estate. The median condo price now sits at $1.125 million, a jump from $950,000 last year. The median price for all property in San Francisco now sits at $1.16 million, up $500,000, or 76 percent, since the current boom kicked off back in 2011. That's a huge jump, but prices in Oakland, where the median is now $525,000, are up 133 percent since 2011, and in Alameda County there has been an 85 percent jump.

Unsurprisingly, house prices have appreciated the most in Pacific Heights if you're considering just straight dollar amounts. The fancy neighborhood is home to multimillion-dollar abodes and has seen a $2.77 million appreciation on its theoretical "median house" since 2011. That's an impressive 86 percent jump, but it also puts Pac Heights in the middle of the pack when looking at the percentage price appreciation of a median house. The Mission has seen a 143 percent price jump, and the price of a Bayview median house has gone up by 117 percent. Surprisingly, Noe Valley has experienced the lowest appreciation of a median house by percentage over the past four years, with only a 60 percent increase. Condos have appreciated most by percentage in Yerba Buena, where the median price has gone up 114 percent, and in dollar terms in Russian Hill, where the median has jumped by $927,000.

The area that holds Pacific Heights, Cow Hollow, and the Marina remains easily on top for house price per square foot, clocking in during the first half of 2015 at $1,415. Its closest competitor is the part of the city encompassing Noe, Eureka, and Cole valleys, where houses sold for an average price per square of $1,103. At the other end of the spectrum is the Bayview/Visitacion Valley neighborhood, where prices are just $521 per square. South Beach, Yerba Buena, and Mission Bay top the list for average dollar-per-square-foot condo values, at $1,364. Diamond Heights has the most affordable condos, at $742 per square.

Spring is traditionally when the city sees its biggest price spikes, and this year was no exception. Now we can expect to see a summer plateau, or possibly even a dip in prices as the pace of new listings slows. The bigger question is whether or not the feverish surge in price will continue into 2016, for a fifth straight year.

· Mid-Year San Francisco Real Estate Report [Paragon Real Estate]