San Fran’s “feverish” housing market hits a new record

The median sale price of a house is now $1.6 million.

New York Weekend Edition /
Apr.April 07, 2018 04:28 PM

(Credit: Pixabay)

What fazes Bay Area home buyers? Not the roller coaster ride on the stock market or the tax overhaul it seems; nothing experts predicted seems able to stop San Francisco home prices from rising and buyers from inking deals, according to Bloomberg.

The biggest news is the median house sales price which jumped up 24 percent compared to last year to a record high of $1.6 million. But condos also saw an increase, albeit not as large due to a new spate of units hitting the market, with prices rising 4.6 percent to about $1.2 million, according to a recent report by Paragon Real Estate Group.

“Recent financial market volatility, so far, appears to be having little effect on local real estate markets,” Paragon’s Patrick Carlisle told Bloomberg. “But it [is] still early to measure this.”

The market has been increasing for six years and counting prompting many to wonder if the city’s a bubble risk, but experts say it’s national or global triggers that seem to affect San Fran’s markets most — and now even that is proving not to be much of a concern. [Bloomberg]Erin Hudson


Related Articles

arrow_forward_ios
The two most expensive contracts signed last week were condos at One Prospect Park West. (Douglas Elliman)

Brooklyn luxury market roars back to life

Brooklyn luxury market roars back to life
Fidelity’s Raymond Quirk (iStock)

Title insurers launch new closing tools as homebuying rises

Title insurers launch new closing tools as homebuying rises
Corcoran to sublet 50K sf in IBM Building

Corcoran to sublet 50K sf in IBM Building

Corcoran to sublet 50K sf in IBM Building
Quarters CEO Rui Barros (Linkedin)

Quarters, the “WeWork of co-living,” files for bankruptcy

Quarters, the “WeWork of co-living,” files for bankruptcy
Joan Collins and 110 East 57th Street #8EFG (Getty, BHS)

Soap star Joan Collins lists longtime Midtown pied-à-terre

Soap star Joan Collins lists longtime Midtown pied-à-terre
Tommy Hilfiger and his recently sold estate in Greenwich, CT. (Getty, Janet Milligan)

Tommy Hilfiger’s Greenwich estate sells for $45M

Tommy Hilfiger’s Greenwich estate sells for $45M
Jenna Ryan was part of a group who flew on a private plane from Denton, TX, to Washington, D.C., with the intention of joining the protestors (Twitter.com/DotJenna)

Texas Realtor faces criminal charges for role in Capitol attack

Texas Realtor faces criminal charges for role in Capitol attack
Porch CEO Matt Ehrlichman (iStock)

Porch snaps up four startups for over $122M

Porch snaps up four startups for over $122M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...