In the first 6 months of 2021, over $6.7 billion in homes were sold in San Francisco - 49% above the previous peak in 2018.
After the pandemic struck, the numbers of new listings and closed sales both climbed to 15-16 year highs.
Single-family home median sales price reached new highs.
The condo median sales price has ticked back up in 2021, but remains a little below its 2019 & 2020 peaks (on a 6-month rolling basis).
Both houses and condos have seen soaring demand since the new year began.
Houses are selling for approximately 17% over the asking price and condos are selling for 4% over the asking price.
Much of the home appreciation has been filled by historic low interest rates.
Typically, new listings climb in spring, fall in summer, spike up dramatically in early autumn, then plunge in mid-winter. Judging by the by the blast of new listings since Labor Day, it appears that we are back in this pre-pandemic norm.
