San Francisco’s housing market is always interesting to watch but six months into the Covid-19 shelter-in-place, it is full of surprises. In June 2020, the record was set for the highest median sale price ever for single-family homes — a record-breaking $1,805,000.
On the flip side is the condo market. The median price for condos in June 2020 was $1,200,000, down 8% from last year. We’ve heard a lot of buzz over the past few weeks about the San Francisco condo market turning in favor of buyers and it is true that the condo market has underperformed compared to the single-family-home market. The quantity of condos, TICs, and lofts that have sold year to date is a whopping 31% below 2019 numbers.
Do not bet against San Francisco. There are opportunities for savvy investors, now! How does the current market impact your property? My team and I are available to discuss your real estate goals.