First Half 2019 Market Update: Back to Peak Prices
The market statistics for the first half of 2019 are in and as I have observed over the past few months, the market has been on an upturn since Q1 and the numbers finally show it. Median home prices for both Single Family Homes and Condos are now back to the peak prices of this time last year. In fact, the median Single Family Home price is up $80K to $1.7MM and the median condo price is up $65K to $1.3MM.
An interesting but not surprising note, is that the most affordable neighborhood is Bayview with a median price of $912,500. The most expensive neighborhood is Pacific Heights at $5.2 million.
How high will prices go? Impossible to predict, but with the stock market hitting new highs, interest rates remaining steady and strong economic indicators, the strength in the real estate market will most likely continue, at least in the near future. If you’re thinking of selling, no reason to wait!
*Source: sf.curbed July 10, 2019