San Francisco Bay Area
Median House Sales Prices in 2016
Median prices almost always conceal large disparities in the prices of the underlying individual sales: In San Francisco for example, median house prices by neighborhood range from $600,000 to $6,000,000. There will be similar disparities in Oakland and San Jose, and even within smaller towns and cities as well: Values can change street by street and block by block. Median sales prices are generalities.
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San Francisco Median Home Sales Prices
Reflecting house & condo sales
as reported to San Francisco MLS
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Above are mapped home-value analyses: 1 of median house prices by city for the greater Bay Area and 1 of recent San Francisco house and condo sales by median sales price broken out by neighborhood. These maps give an interesting overview of comparative home values in the different areas of the city and Bay Area. These maps are sometimes updated at different times and even a small change in the timeline of the analysis can affect median sales prices.
Median sales prices often fluctuate (especially over the short term) for other reasons besides changes in value.
Median price is that price at which half the sales occurred for more and half for less -- the single median price for an area almost always disguises an enormous variety of sales prices in the underlying, individual home sales (especially in the larger cities). Median sales price may be and often is affected by other factors besides changes in value, such as seasonality; changes in financing conditions, buying patterns and available inventory; and significant changes in the new-construction, distressed and luxury home segments.
All median and average statistics are based on that relatively unique basket of homes that sell within the designated period and should be considered general approximations. It is unknown how they apply to any particular property without completing a specific comparative market analysis.
The sale of new-construction condos in 2014, 2015 and 2016 have been significantly increasing median and average values in certain neighborhoods such as Potrero Hill, the Market Street corridor, Hayes Valley & Mission Dolores.
Some neighborhoods and towns had relatively few sales during the period, which may produce anomalous results. This analysis was done in good faith, but may contain errors. All prices should be considered general approximations.
All data from sources deemed reliable but may contain errors and is subject to revision.
2017 Copyright Paragon Real Estate Group