In the past decade, San Francisco’s median single-family home sales prices recovered from a devastating decline in the financial and housing crisis to rise 130% – from $688,000 to $1,577.500. Condo/loft/TIC sold prices rose 94%, from $645,000 to $1,250,000.

These rises compare to the median household income increase over the same time period of 57% – from approximately $70,000 to $110,000.**

2009 mortgage rates were just above 5%, compared to 3.5% today.

Single-family home inventory was higher – 4-5 months for single-family homes vs. half that level today. Likewise, condo/loft/TIC’s inventory was also about double what it is today, which is slightly higher than single-family homes.

The closing year of the decade, 2019, also had strong median sold price growth: 5.2% and 4.2%, respectively, for single-family home and condo/loft/TIC’s.

Today, the question everyone is asking: what to expect in 2020? All signs remain strong that real estate prices will continue to rise because of the following factors: low interest rates, low inventory, strong buyer demand, and an exceptionally strong job market. Until one of these factors changes, the equation has only one possible outcome: higher prices.

 

Summary of the Numbers – 2019*	Single Family Residences (SFR)	% Change         Year-over-Year	Condo/Loft /TICs	% Change         Year-over-Year
Median Sold Price	$1,577,500	5.2%	$1,250,000	4.2%
Median Days on Market (DOM)	15	-12%	26	4.0%
Months of Inventory	1.9	-21%	2.5	-7.4%
Percent of Homes Sold Over List Price	76%	0.0%	61%	5.2%
Median Percent of List Price Received	111%	0.18%	102%	0.59%
New Listings (#)	123	-26%	157	-28%
Homes Sold (#)	207	-1.3%	234	-5.3%
Median Sold $/Square Foot	$977	5.4%	$1,096	2.5%

* based on a 3-month rolling average

**as of the end of 2018, the latest year for which data are available