Polaris Pacific: San Francisco Condominium Market January 2015

San Francisco Condominium, Polaris Pacific, San Francisco condo market, buying condo in San Francisco, San Francisco condo

SF_January_2015-2 FRONT

Annual Price and Sales Changes by District

The maps below (Figures 1 & 2) show annual percentage changes in median price and total sales by district. While most districts in San Francisco experienced positive median price growth over the past year, the most notable year-over-year price increases occurred in District 1 and 2 (+36.7% and +36.1%, respectively). There was a 4.2 percent decline in total resales from the prior year. The decline in resale activity is the result of low inventory and not a lack of demand.

Current Prices and Sales by District

Figure 3 shows a box-and-whisker plot of sales prices by district during the three-month period ending December 31, 2014, with wider boxes indicating more sales. As shown below, District 7 had the highest median price ($1,349,000), while District 10 had the lowest ($529,000). District 9 experienced the most sales during this period (253 sales).

Historical Prices and Sales

During the three-month period ending December 31, the median price increased 17.8 percent from the prior year to $972,000. At the same time, there were 747 total resales, a 4.2 percent decrease from the prior year. The median price surpassed its 2008 year peak of $762,500 in 2012 and continues to increase.

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