SAN FRANCISCO—Home sales, both multifamily condo and single-family, are holding strong amid some bumpiness, including a pause ahead of the November election. Redfin's October research reported US median home sale prices increased 15% year-over-year to $320,625, the highest on record.
In the week ending October 18, home prices were up 16% from the same week a year earlier. Rising sales and prices, rebounding from earlier drops mirroring the pandemic, are bouncing back in counter-trend to declines reported in same-period numbers of 2018 and 2019. Condo prices rose 5.4% in August.
San Francisco echoes many US markets in the dichotomy of upper-end product versus entry-level housing. Compass research shows single-family prices rose 5.2% to $1.66 million from $1.5 million last year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
