AgentMarkets & Economy

San Francisco home prices aren’t immune to seasonality

Despite mild temperatures and a hot home market, San Francisco home prices have ebbs and flows
  • Par for the course, home prices in San Francisco jumped up again in the fall and then dropped off again in the winter.
  • The combined median sales price for both single-family homes and condos hit a new high in April at $1.285 million.
  • Every category, with the exception of houses $1.35 million and below, saw drops between 2.5 and 6 percent in sales price to original list price.
  • In April, there were more $2 million-plus condos for sale on the MLS than ever before.

Although known for exorbitant real estate, San Francisco home prices fluctuate regularly by month and even season-to-season from a broader scope. Between 2012 and 2015, median sales prices usually rose noticeably in the spring and then faded off, or even dipped, in the summer. Paragon Real Estate Group recently released its May report, outlining both short and long-term trends for the City by the Bay. Since 2012, the spring has regularly proven itself to be the liveliest season for the city with high demand and low supply. Par for the course, home prices in San Francisco jumped up again in the fall and then dropped off again in the winter. In a hot home market like San Francisco, the assumption that the city is immune to these fluctuations is passed around often. But Paragon’s data shows there is (and was) wiggle room in one of the priciest areas of the country -- if you time it right. The combined median sales price for both single-family homes and condos hit a new...