All you need to know about how San Francisco real estate performed in 2016! Please enjoy the SFAR Annual Report on the San Francisco County Housing Market showcasing residential real estate activity in San Francisco County for 2016.
- Closed sales decreased 3.9% to 4,992 to close out the year.
- Inventory was lower in year-over-year comparisons. New listings decreased by 0.7% from 2015.
- Home prices rose compared to last year. The overall median sales price was up 3.9 percent to $1,195,000 for the year. When inventory is low and demand is high, prices will rise. Single Family homes were up 6.0% compared to last year while Condo/TIC/Co-op were down 0.9%.
- Sellers received 107.7% of their original list price received at sale, a year-over-year decrease of 3.5%.
Projections for 2017….Prices should increase in most areas in 2017 but at a slower growth rate. Low home supply is expected to continue throughout 2017.
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Read the full report here: San Francisco Annual Report 2016