September is traditionally the month of the year when the greatest number of new listings hit the market in San Francisco, kicking off the big fall selling season that lasts until sometime around Thanksgiving. So what does the real estate market look like heading into this year's fall season? San Francisco's median home price sat at $1.175 million in August, according to the latest report from Paragon Real Estate. That figure is up 22 percent over last August, when the median was $955,000, and fall usually sees another price spike.
This year, fall selling season kicks off against a backdrop of market uncertainty that could affect the number of homes hitting the market, the number of people buying, and overall prices. But San Francisco's economy remains strong, with far more employed residents in the city than ever before. New construction is still low in comparison, fueling the imbalanced state of San Francisco's housing market. Although it is nearly impossible to predict just how long the crazed state of the market will continue, this fall will likely provide some telling information about where we're headed next.
· Autumn 2015 Homes Market and Volatility [Paragon Real Estate]