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The Real Deal Los Angeles

The average house price in San Fran rose by over $200K so far in 2018

The city's largest ever six-month price gain is supposedly due in part to Softbank's Vision Fund
July 08, 2018 03:07PM

Softbank CEO Masayoshi Son, left, at the launch of an app in 2011. (Credit: Danny Choo)

If you’re looking to buy in San Fran, prices have just gone way, way up.

Housing prices shot up a whopping $205,000 over the first six months of the year, while condos saw a jump of $71,000, according to CNBC, citing data analyzed by Paragon. The increases put the average price of a house in the city at $1.62 million and the average condo at $1.21 million.

The historic gains in price in the first half of 2018 are reportedly due to Softbank’s $100 billion Vision Fund, which has been hyper-fueling the tech boom since its launch in 2017, the strong showing of recent tech IPOs and steady behemoths like Facebook, Apple and Alphabet continuing to plow ahead and grow. [CNBC]Erin Hudson