2021: May San Francisco Real Estate Insider
Greetings as we close out the first week of May. Lots of things are happening with the City (slowly) re-opening, announcements of return to office plans for many large employers, decreasing infection rates and an insanely hot real estate market in the Bay Area.
To touch quickly on the popular topic of outflow of SF/California residents sparked by COVID, the Census count was finalized and the numbers were recently made public. Bad news for California; due to the outflow of residents, we lost a house seat (for the first time ever). In no small coincidence, Texas is adding two seats (and Texas is one of the largest recipients of outflow Californians).
On to real estate. Now that we have full set of COVID-related market data to compare (year-over-year basis), I thought it would be of interest to look at some numbers from January-April as it relates to the single family and condo markets. Keep in mind, the condo median is getting dragged down by condos in big buildings. Condos in boutique buildings as well as condos with outdoor space are selling well.
On to median sales price trends for houses by neighborhood. The median in all areas is up except Bernal Heights. Why? Lots of inventory.
