A Strange Real Estate Year Begins Winding Down
December 20, 2020 — Source: Compass
San Francisco Real Estate
A Strange Year Begins Winding Down
December 2020 Report
Though the pandemic upended many normal seasonal trends this year, the market did begin its typical “holiday season” slowdown in November - however activity remained well above levels of last year. It is unknown how the latest Covid-19 circumstances may affect the market in December, which is usually by far the slowest month of the year.
More importantly, we hope you and your loved ones stay safe and well during this challenging holiday season.
This first chart tracks percentage changes in median house sales price since 1990. It is based upon the Q1 2000 price being indexed to 100: A reading of 50 signifies a median price half that in Q1 2000; 200 means the price has doubled since then. In early 1990, the SF median house price was about $300,000; it is currently running about $1,650,000.
Year-over-year median sales prices for condos of various sizes, and for houses, in September through November of 2018, 2019 and 2020. A big increase in supply since the pandemic struck has led to declines in condo median sales prices.