There is no question that 2015 was another booming year for San Francisco real estate. Despite fears (or hopes?) of a fall slowdown for prices, the median house price in the city at the close of the year sat above $1.2 million, and the average price per square foot for both houses and condos topped $1,000 in many neighborhoods, according to Paragon Real Estate's year-end wrap of the market. One stat that seemed to sum up the state of San Francisco in 2015 was the median sales price for a "fixer-upper" house: a whopping $950,000.
Not surprisingly, Paragon's report shows that the market is currently in its seasonal winter decline, with a huge drop-off in the number of listings over the past couple of months and a dip in the percentage of listings accepting offers. But looking back over the year, the most expensive homes were found in Pacific Heights, Cow Hollow, and the Marina, where per-square-foot prices hit an average of $1,448. Noe, Eureka, and Cole Valleys weren't far behind at $1,200, and Sea Cliff, Lake Street, and Jordan Park sat at $1,070. South Beach, Yerba Buena, and Mission Bay topped the condo market at $1,376 per square, followed by Russian and Nob Hills at $1,158 and Pacific Heights and the Marina at $1,148.
With 2015 officially in the books, the only question to ask is what 2016 will bring?
· 2015 San Francisco Real Estate Market Review [Paragon Real Estate]