09 Jan San Francisco Real Estate Market | January 2021
2020 San Francisco Housing Market Overview
Pandemic, shelter in place, mass unemployment, terrible financial hardships for many households and small businesses, new ways of working, office buildings empty, people move, rents plunge, dreadful fires, an anxious presidential election, interest rates to historic lows, stock markets to new highs, billionaires decamp to save taxes, IPO mania breaks out again, vaccines begin to arrive – and the real estate market in San Francisco saw complicated dynamics in supply and demand, with a strong recovery after an initial crash in activity. 2020: a year of extremes.
Many factors affect home values: quality of location within the city, architectural style and curb appeal, square footage, condition, views, amenities, extra rooms, parking, decks and yards, lot size and so on. There is a vast variety of homes within the city and how median sales prices apply to any particular property is unknown without specific comparative market analysis.
Median sales price is that price at which half the sales occurred for more and half for less. It is a very good general statistic that often disguises a wide range of prices in the underlying individual sales. Median sales prices are often affected by factors besides changes in fair market value. Based upon sales reported to MLS – not all sales are reported. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers are approximate. Late reported sales may alter numbers, though typically only to a slight degree.
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