Median S.F. Home Price Hits A Record $1.15M And Sales Slip (Again)
Recorded sales activity for single-family homes and condos in San Francisco slipped 1.4 percent in May and is currently running 6.1 percent lower on a year-over-year basis, versus 5.6 percent lower last month. Sales activity in San Francisco typically increase around 10 percent from April to May.
As sales volume slipped, the median sale price for a home in San Francisco ticked up 4.5 percent to a record $1.15 million, which is 21.4 percent higher versus the same time last year according to data from CoreLogic.
While movements in the median sale price are a great measure of what’s in demand and selling, they’re not necessarily a great measure of appreciation or changes in value and are susceptible to changes in mix.