April 8, 2016
San Francisco’s condo market is shifting, according to Paragon Real Estate’s latest market report. The market continues to be white hot, especially in the more “affordable” price ranges. But, the supply and demand dynamic is beginning to change in the luxury condo market.
Paragon’s chief market analyst Patrick Carlisle says “much of this seems to be related to the influx of new-construction condos onto the market.”
According to the report, market segments in the city are trending in significantly different directions. Homes under $2 million are still often selling in a frenzy of bidding. New supply, added to the usual resale-condo inventory, still did not keep up with demand, but that’s shifting at the more expensive end of the condo market.
So far, any cooling of the market has not shown up in median sales prices.