April 14, 2017 Comments Off on Sales Figures Don’t Add Up to Market Demise Views: 357 Bay Area, California News

Sales Figures Don’t Add Up to Market Demise

Connect San Francisco is coming up May 9, 2017 at SPUR Urban Center. Here’s where to find out the details, and register: Connect San Francisco 2017.

In recent months, the demise of San Francisco’s residential market has been widely reported and speculated about. But the latest report by Paragon Real Estate shows no “big drops in prices.”

Paragon’s Patrick Carlisle says a decline simply hasn’t materialized “on the ground, in the hurly burly of buyers and sellers making deals, nor in the year-over-year quarterly statistics of supply and demand.” He notes the early 2017 market has been defined by “an inadequate supply of listings for sale, when compared to buyer demand.”

Key findings of April 2017 report:

  • Median house prices basically plateaued year-over-year.
  • Median condo prices unexpectedly increased from Q1 2016 to hit a new peak.
  • Historically, it is not unusual for Q1 median prices to drop from Q4 due to seasonal reasons, mainly the characteristic big slowdown of luxury home sales in mid-winter.
  • The picture for condos is further confused by new-construction condo sales.

Read more at Paragon 

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For comments, questions or concerns, please contact Dennis Kaiser

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