Author Archives: Pota Perimenis

Gold, Google and SF Real Estate

 


Paragon Real Estate Group

Paragon Real Estate Group
 

Gold, Google, Facebook & San Francisco Homes
Return on Investment Rates since 2011Penthouses, Probates, Fixer-Uppers & Panoramic Views
A Survey of the SF Real Estate Market in 2016

 

January 2017 Report
including over 20 custom charts

 


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This first chart is a somewhat lighthearted, but we believe accurate look at how various 2011 investments would have played out through 2016. (FB is dated from its 2012 IPO.) When calculating appreciation, purchase and sale dates are critical factors, and changing those can alter the results significantly: Using 2011, the last bottom of the real estate market, as the purchase date certainly plays to the advantage of home price increases. If you bought gold or soybeans in 2011, you really should have sold them a couple years ago at the height of the commodity price boom.Besides the appreciation percentage noted, buying a home in 2011 with all cash would have generated large, additional financial returns in the form of extremely low monthly housing costs. Buying it with 20% down supercharges the return on cash investment, and that is before adding in other advantages: Even with an 80% loan, by 2016 your monthly housing costs, with recent low interest rates and tax advantages, would be well below market rents. Then there is the huge capital gains exclusion on the sale of a primary residence, which would not apply to other investments.

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Sales of Probates, Penthouses, Fixer-Uppers, Lofts;
Homes with Views, Elevators & Wine Cellars

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Long-term San Francisco
Median Home Price Appreciation


San Francisco median house prices continued to appreciate in 2016, albeit, at 6%, at a considerably slower rate than the previous 4 years, while condo prices basically plateaued (and indeed dipped in some neighborhoods). As with almost everything to do with real estate values, it boils down mostly to supply and demand, as discussed below.



In 2016, the supply (and sales) of house listings in the city continued to dwindle, while a surge of new-construction condo projects hitting the market appreciably increased the inventory of condos available to purchase. In 2003, house sales in San Francisco were over 50% higher than in 2016. According to a study by the National Association of Realtors, the median time house owners are staying in their homes has jumped from an average of 6 years in 1987-2008 to 9 years since: Owners are getting older, not changing jobs as often, and baby boomers are aging in place as NAR put it. House owners sell their homes much less frequently than condo owners, who tend to be younger. In SF, there is also the factor of a reluctance to sell when that means facing a very challenging market for buyers. And with very low interest rates, and very high rents, some owners are renting out their houses instead of selling.

It all boils down to a continuing strong demand for houses meeting a steadily declining supply: Even with a market that cooled somewhat in 2016, competition between buyers continues to push house prices up, especially in more affordable neighborhoods. The equation is different for condos, which has become the dominant property-sales type in the city: A cooling market is meeting increased supply. There has been no crash in condo prices, but areas with the greatest quantity of new condo construction have seen small declines.


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What Costs How Much Where in San Francisco
Below are a few of our many updated analyses on home sales and prices by neighborhood, property type and bedroom count.

House Sales & Values


As can be seen above, two of the most affordable districts for houses, Districts 10 and 2, also provide 37% of all the house sales in the city. Generally speaking, they have continued to experience very strong buyer demand in 2016.

Condo Sales & Values


District 9, a large district that stretches from SoMa, South Beach and Mission Bay to Potrero Hill, Dogpatch and Inner Mission, is increasingly dominating condo sales in the city. The great majority of new condo construction, especially of the largest projects, has been occurring in this district.

All our breakdowns by neighborhood and home size are here: SF Home Price Tables


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Home Sales by Price Segment by District
Behind the overall median prices often quoted is a wide range of individual sales across a spectrum of prices. Here are a few of our updated analyses for every district of the city.



Our complete collection of district analyses: SF District & Neighborhood Sales Breakdowns

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San Francisco Overview Market Statistics
The following classic measures of market heat all tell the same story: Coming out of the recession in 2011, the San Francisco market became increasingly frenzied through the spring of 2015. In late 2015, as housing affordability became a critical issue, and the local high-tech economy saw some cooling, and financial markets worldwide experienced increasing volatility, the SF real estate market began to cool and normalize. Buyer competition for new listings softened, overbidding declined, days-on-market increased, appreciation declined or plateaued, and so on. And the condo market cooled more than the house market due to issues discussed above.

2016 saw a reasonable adjustment to a desperately overheated market, but nothing that suggests, so far, an imminent, dramatic downturn. Indeed, by national standards, most of our current statistics still define a relatively robust market. In a recent interview, Ted Egan, chief economist of the City of San Francisco, put the odds of a new recession at 10% or less.

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Real Estate Market Seasonality
Listing and sales activity builds from early January, the nadir of the market, into spring, typically the most active season. Accepted-offer activity provides an excellent illustration of the heat of the market during different times of the year.


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3 Important Economic Indicators

San Francisco & Bay Area Employment Trends
After dropping a little in the first half of 2016, SF and Bay Area employment numbers jumped back up in the second half, an encouraging sign for the local economy.


Mortgage Interest Rates in 2016
Interest rates popped 22% higher since the election, though they still remain very low by any historical measure. Where they will go now is a subject of intense speculation since they are a critical component of housing affordability.


The S&P 500 Stock Index since 1994
To the surprise of many, U.S. stock markets also popped after the election to their highest points ever.


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And now on to 2017, certain to be another interesting year.

Wishing you and yours a safe, healthy, happy and prosperous New Year.

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It is impossible to know how median and average value statistics apply to any particular home without a specific comparative market analysis, which we are happy to provide upon request. Please call or email if you have any questions or need assistance in any way.

These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.


© 2017 Paragon Real Estate Group
No one knows San Francisco real estate better than Paragon.
Paragon Real Estate Group
www.paragon-re.com/

Pota Perimenis
Lic# 01117624
1400 Van Ness Avenue
San Francisco, CA 94109
Direct 415-738-7075
Cell 415-407-2595
pperimenis@paragon-re.com
www.sfcityhomes.com

 

148 Cole Street-Just Sold-NOPA Condo

This month I sold 148 Cole Street, a lovely full floor condominium near Hayes Street for $907,000. We received multiple offers.

Typically, a property is vacant and staged for sale. This is fine if it’s possible. But not every seller is willing/able to move out of their home and stage before going on the market. This is fine too. Sellers living in their homes while they are marketed can still maximize their value–with the right marketing strategy and the right Realtor.

I have sold hundreds of homes in all markets and circumstances. I have never had a dissatisfied client. I put 100% of my energy, resources and 25 years of committed experience into every transaction. I limit the number of clients I work with to maintain the quality of my service. And no one knows the NOPA market and neighborhood better than I do. If you are thinking of selling I would love to help you too.

Give me a call and we can talk. 415-407-2595. There is no cost or obligation. Thank you!

Pota Perimenis
Local NOPA expert. Live. Love. NOPA.

“Pota has great insight, is a specialist in the NOPA area, and has great customer service skills. Her research and strategy skills resulted in a maximum return for our property.” B. Yokoyama, Satisfied NOPA seller.

San Francisco’s Hottest, Most Competitive Neighborhood Market

A Shift from Prestigious, Expensive, High-Tech and Hip
to Normal, Middle-Class, Working-People Affordable

October 2016 Paragon Market Report
Since the market recovery began in 2012, various districts have taken the lead as the hottest markets in San Francisco: The affluent and prestigious Noe-Eureka-Cole Valleys district and Pacific Heights-Marina district led the recovery out of recession. Later South Beach/SoMa, Hayes Valley and, especially the Mission, went white hot as the high-tech boom surged (though, honestly, high appreciation rates became general throughout the city). In mid-2015, price appreciation in many the more expensive and fashionable districts started to slow down and plateau.

With the search for affordable homes, and houses in particular, becoming ever more challenging (or desperate), the greatest pressure of buyer demand moved to a large, lopsided curve of historically less expensive neighborhoods running along the western-most edge of the city from Outer Richmond south to Lake Merced, then east across the southern border with Daly City, and up through Bernal Heights and Bayview. Of these, we believe Realtor District 2, Sunset/Parkside, with its quiet streets and low crime rates; its closeness to the beach, GG Park and highways south to Silicon Valley; and its attractive, modest-sized houses built mostly in the 1930’s and 1940’s, is now the hottest, most competitive market in San Francisco.

 

 


Paragon Real Estate Group

Paragon Real Estate Group
 

The Hottest Neighborhood Market in San Francisco
and Other Real Estate Analyses

 

October 2016 Paragon Market Report

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Link to our updated San Francisco neighborhood home-price map

Before jumping to neighborhood market dynamics and the hottest market in the city, here are a few overview analyses:


San Francisco Median Home Prices by Quarter
2012 – 2016


Median sales prices typically fall in Q3 from Q2 due to seasonal inventory and demand issues, and that occurred in 2016 as well. Year over year, the Q3 2016 house price is running above that of Q3 2015, while the condo median price has stayed essentially flat.

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San Francisco Median Home Prices by Year
1993 – 2016

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Biggest Surge in New Luxury Home Listings Ever


Even more so than the general market, the luxury home market is fiercely seasonal, with spring and autumn being much more active than summer and, especially, the mid-winter holiday doldrums. September is typically the single month with the highest number of new listings, which fuels the relatively short autumn selling season before the luxury market starts to go into hibernation in mid-late November. This year saw a particularly large jump in the number of new listings of homes of $2.5 million and above, to by far the highest level ever.

Because the time between listings coming on market, offers being negotiated and accepted, and then the transactions actually closing sale is 4 to 6 weeks or more, it will be a little while before we have hard data on how the market responded to this feast of expensive homes hitting the market.

The Hottest, Most Competitive Market in San Francisco

A Shift from Prestigious, Expensive, High-Tech and Hip
to Normal, Middle-Class, Working-People Affordable


Since the market recovery began in 2012, various districts have taken the lead as the hottest markets in San Francisco: The affluent and prestigious Noe-Eureka-Cole Valleys district and Pacific Heights-Marina district led the recovery out of recession. Later South Beach/SoMa, Hayes Valley and, especially the Mission, went white hot as the high-tech boom surged (though, honestly, high appreciation rates became general throughout the city). In mid-2015, price appreciation in many of the more expensive and fashionable districts started to slow down and plateau.

With the search for affordable homes, and houses in particular, becoming ever more challenging (or desperate), the greatest pressure of buyer demand moved to a large, lopsided curve of historically less expensive neighborhoods running along the western-most edge of the city from Outer Richmond south to Lake Merced, then east across the southern border with Daly City, and up through Bernal Heights and Bayview. Of these, we believe Realtor District 2, Sunset/Parkside, with its quiet streets; its closeness to the beach, GG Park and highways south to Silicon Valley; and its attractive, modest-sized houses built mostly in the decade before and decade after WWII, is now the hottest, most competitive market in San Francisco.



In the charts below, notice how year-over-year statistics have generally cooled somewhat in most areas of the city from the frenzied market prevailing in the first part of 2015: higher days on market, lower percentages of listings selling over asking price, higher months-supply-of-inventory figures, and so on. The most affordable districts are those generally showing the least, or even no, change year over year, and some of them are still sizzling. However, the 2016 statistics for SF house sales in no way suggest what would be described as a weak market in any of the city districts. (Some of the condo markets have softened more significantly.)


Overbidding Asking Prices: SF House Sales

Percentage of House Sales Selling over Asking Price

SF House-Price Appreciation Rates

Average Days on Market

Months Supply of Inventory:
Buyer Demand vs. Supply of Listings for Sale

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San Francisco District Condo Markets


For a number of reasons, including a significant increase in new-construction projects, the condo market in San Francisco is not as strong as its house market, but without any hint of an impending crash: The median SF condo price has simply plateaued after years of feverish appreciation. Based upon our analyses of underlying market dynamics shown via the charts below, we believe the condo markets of the Noe, Eureka and Cole Valleys district, and the Richmond/Lake Street district are currently the most dynamic in the city. It is probably no coincidence that these areas are seeing comparatively little new condo construction adding to inventory.

The cooling of the condo market is clearly reflected in the 2016 vs. 2015 statistics. The first chart also illustrates, as mentioned in earlier reports, how the luxury condo segment ($2m+), especially in District 9 (greater SoMa/South Beach/ Yerba Buena) where the majority of new, luxury condo construction is occurring, has softened the most. These charts do not include the many hundreds of newly built or under construction condos listed, accepting offers or sold, which are not reported to MLS, as exact data on that activity is hard to verify.



Chart: Overbidding Condo Prices

Chart: Condo % Sales over List Price

Chart: Condo Average Days on Market


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District Sales Overview
Sales Volumes and Sales Prices


Chart: Average San Francisco House Sizes by Neighborhood

As illustrated above, the 3 most affordable districts for buying a house in San Francisco are also 3 of the 4 districts with the most house sales.



25 years ago, the greater South Beach/ SoMa/ Mission-Bay area did not even have an appreciable amount of residential housing. Now, if we add new-condo sales not reported to MLS (which are not reflected in the chart above), it is the area with the greatest number of condo sales in the city, more than twice as many as the second ranking district. It is also now the foremost area for luxury condo sales, having leapt ahead of the old-prestige Pacific Heights and Russian Hill districts. This is the only place in the city where high-rise construction is currently allowed, and there is much new construction in the works.


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New Bay Area Hiring Surge?
Employed Resident Count in 4 Central Bay Area Counties


Hiring and the population growth it engenders play a huge role in buyer and renter demand. After peaking in December 2015, the number of employed residents in the 4 middle Bay Area counties fell by 6000 through June 2016, the largest sustained drop in 5½ years. This seemed to correlate with an apparent cooling in the high-tech boom. Then in July & August 2016, a sudden, new hiring surge added almost 38,000 to the employment numbers, hitting a dramatic new high. We will have to wait for the data of future months to see if this is part of a sustained second wind in Bay Area hiring (especially in high-tech), or simply an unusually large, short-term fluctuation.

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These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in the Bay Area, each with its own unique dynamics. Median prices can be and often are affected by other factors besides changes in fair market value, and longer term trends are much more meaningful than short-term. It is impossible to know how median prices apply to any particular home without a specific comparative market analysis.

© 2016 Paragon Real Estate Group
No one knows San Francisco real estate better than Paragon.
Paragon Real Estate Group
www.paragon-re.com/

Pota Perimenis
Lic# 01117624
1400 Van Ness Avenue
San Francisco, CA 94109
Direct 415-738-7075
Cell 415-407-2595
pperimenis@paragon-re.com
www.sfcityhomes.com

 

Just listed–NOPA Condominium

 
 
 
JUST LISTED: 148 Cole Street
Off-MLS opportunity in NOPA!
 
 
 
 
PROPERTY FEATURES:
  • Bedrooms: 2
  • Bathrooms: 1
  • Property Type: Condo
  • Neighborhood: North Panhandle
  • Full floor condominium in 3 unit building built in 1911

  • Flexible 5 room floorplan-(e.g. it can be 1 BR + den + formal dining room + living room, or 2BR + den + living room)

  • Remodeled bath
  • Original detailing includes wainscot, box beam ceilings, wood floors, built-ins, high ceilings
  • 2 decorative fireplaces
  • Good closet space
  • Large, updated, bright eat-in kitchen
  • Shared garden
  • Deeded storage area in basement

  • Dues: approx $253.06 /month (building insurance, water, garbage, common PGE, reserves)​
 
 
 
 
This is a great opportunity to purchase a full floor condominium in a 3 unit building before it gets fluffed and staged. The seller will look at offers as they come. There will be no open houses or broker tours but it can easily be shown by appointment. Please note: The photos posted here are from a time when the unit was staged. It is currently owner occupied and is not furnished the way it was in the staged photos, but it’s the same great space. Show to your clients who have the vision to appreciate a space that is not staged, and who can imagine themselves living in a spacious NOPA condo for under $1 million!


Located in North Panhandle, this convenient neighborhood has much to offer: Walk to Panhandle and Golden Gate Park, Cole Valley, Haight/Ashbury, USF, UCSF, USF Koret Center, neighborhood coffee shops and restaurants, yoga, Whole Foods, Gus’s market, and more! There is easy access to public transportation. Residents qualify for gym membership at USF’s Koret Center.
 
 
 
 
OFFERED AT $949,000
 
More Information
Request Showing
 
 
 
 
Pota Perimenis
415.407.2595
pota@sfcityhomes.com 
www.SFCityHomes.com
Lic# 01117624
 
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Free home warranty with every transaction

Free Home Warranty with every Transaction

I am pleased to offer a free home warranty to every buyer or seller that I work with. I recently got an email from a client who used her home warranty to get several repairs worth thousands of dollars in her home. She wrote me an email to let me know how useful the home warranty was for her and to remind me to remind my clients to use theirs! I love knowing I add value in a variety of ways to my clients, making their lives a little easier and saving them money in the process. For all my buyers and sellers–your home warranty is there in case you need it. I hope you don’t need to, but if you do, don’t forget to use it!

San Francisco Home Sales by Price Segment

San Francisco Home Sales by Price Segment

San Francisco Home Sales by Price Segment

In thinking about the market, it seems that lower-priced home sales (especially houses) were still quite hot and sales under $1 million were clearly decreasing in volume as prices rose in more affordable areas. And sales of higher priced homes were decreasing as that segment cooled off, which would suggest that sales between $1m and $2m would be increasing, i.e. sales volume was increasingly being concentrated in the middle of the market.

It appears that median prices have generally been plateauing, but that disguises other changes and varying conditions in the market.

When adjusting 2016 numbers to compensate for a year-over-year decline in unit sales of 7.8%. After doing so, one sees unit sales below $1m and above $2m both dropped by about 9%, while sales of homes in between jumped 12%.

bay area median house appreciation

Bay Area Real Estate and Demographics

What Bay Area markets had the biggest bubble or crash?
Where are homes selling fastest for the most over asking price?
What county sells the most homes over $2 million?
Is most affordable? Most educated? Has the most Republicans?
Why do San Francisco, Oakland & Berkeley have rent control?

A San Francisco Bay Area Survey
including 20 custom charts and tables
August 2016

While waiting for the autumn market to begin, we thought we would step back and look at the Bay Area from a variety of angles. If you are tired of reading about real estate, there are some interesting demographic analyses at the bottom of this report.



Paragon Real Estate Group
 

Paragon Real Estate Group

What Bay Area markets had the biggest bubble or crash?
Where are homes selling fastest for the most over asking price?
What county sells the most homes over $2 million?
Is most affordable? Most educated? Has the most Republicans?
Why do San Francisco, Oakland & Berkeley have rent control?

A San Francisco Bay Area Survey
including 20 custom charts and tables
August 2016

While waiting for the autumn market to begin, we thought we would step back and look at the Bay Area from a variety of angles. If you are tired of reading about real estate, there are some interesting demographic analyses at the bottom of this report.


Ups & Downs in Bay Area Real Estate Markets


All Bay Area markets saw large surges in home values from 2000 to 2007; all went through significant or even terrible declines after the 2008 financial markets crash, typically hitting bottom in 2011; and all have made dramatic recoveries since. But there are big differences in how these events played out in distinct markets, with 4 main factors behind price changes over the past 16 years:

  • BUBBLE: Generally speaking, the lower price ranges and the less affluent areas saw much bigger, crazier bubbles than other segments, inflated in the years prior to 2007 by predatory lending, subprime loans and the utter abandonment of underwriting standards.
  • CRASH: In 2008-2011 distressed-property sales devastated the lower price segments, which suffered the biggest declines in home prices. When the recovery started in 2012, they began from unnaturally low points, which had little to do with fair market values. Other market segments were affected but to much lesser degrees.
  • PROXIMITY to the high-tech boom: SF and Silicon Valley have been the white-hot hearts of economic expansion. Oakland and the rest of Alameda County were the closest, significantly-more-affordable housing options. Then, as one moves further away, the electrifying effect on home prices gradually lessened.
  • AFFORDABILITY: The more affluent areas led the recovery in 2012-2014, but then the highest pressure of demand started shifting to less expensive, comparatively more outlying neighborhoods, cities and counties. Buyers desperately searched for affordable housing options, or simply wanted more home for the dollar. Now, some of the most expensive markets are beginning to cool, while less expensive ones remain very competitive.

    • A fifth factor just beginning to impact some markets now (such as the SF condo market) is the significant increase in new home construction, most of which is on the more, or much more, expensive end.



    The chart above illustrates median sales price changes, from 2007, the approximate peak of the bubble, to 2011, the approximate bottom after the crash, to the present, after 4-plus years of recovery. The table below summarizes the percentage changes charted above.



    OAKLAND had a very large subprime bubble, a huge crash, and then a sensational recovery highly pressurized by being just across the bridge from SF (and much more affordable). The Oakland median house price is up a staggering 178% since 2011, partly because it crashed so low. However, because its subprime bubble was so big, it is only 10% above its inflated 2007 price. Alameda County as a whole has experienced much the same market. Other comparatively lower-priced Bay Area markets, such as northern Contra Costa, Solano, Napa and Sonoma, more distant from the high-tech boom, saw similar dynamics, but are still below their 2007 peaks despite substantial recoveries.

    Price-change percentages up and down are not created equal: If a price drops 60%, it then has to go up 150% to get back to where it started.

    SAN FRANCISCO, more expensive and affluent, had a much smaller bubble and much smaller crash with far fewer distressed sales (and those mostly concentrated in its least expensive districts). The high-tech boom then supercharged its recovery: Its median house price is up 93% from the bottom hit in 2011 (much less than Oakland), but is 51% higher than its 2007 peak, the biggest increase over the 10 years of any of the markets measured. Silicon Valley has similar statistics, and other high-price markets like Marin and the Lamorinda/Diablo Valley area of Contra Costa County, saw comparable, if somewhat less dramatic, dynamics.

    These county market descriptions are gross generalizations, as each county has both very affluent and less affluent communities, with their own unique dynamics.

    Additional chart: Bay Area home price trends since 1990

    Additional chart: Bay Area dollar per square foot values

    Additional chart: Average Bay Area house sizes


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    Trends in Home Values since 1988
    per the S&P Case-Shiller Home Price Index


    Instead of looking at different locations in the Bay Area, Case-Shiller analyzes its entire market by low, mid and high-price tiers, each tier equaling one third of sales. For any Bay Area home, whatever its price in January 2000, Case-Shiller assigns it a value of 100. All other values on the chart below refer to percentages above or below the January 2000 price, i.e. 150 equals 50% price appreciation since that date. Case-Shiller does not use median sales price data, but instead uses its own custom algorithm to reach its conclusions.



    Two things stand out: As mentioned before, different price segments had bubbles, crashes and recoveries of vastly different magnitudes. Secondly, all the price tiers are now roughly the same percentage above their January 2000 prices, each showing about 130% appreciation over the past 16 years.

    Note how much higher the peak of the bubble in 2006-2007 was for the low-price tier of homes (light blue line): Prices jumped an incredible 170% from 2000 vs. 119% for the mid-price tier and 84% for the high-price tier. Then came a correspondingly gigantic crash.

    Our full report: 30+ Years of San Francisco real estate cycles


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    San Francisco Home Prices by Neighborhood,
    Property Type and Bedroom Count


    Below is one of 7 tables in our updated breakdown of SF home prices. The full report:
    SF Home Values Analysis by Neighborhood


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    Selected Bay Area Market Dynamics


    A selection of relatively self-explanatory snapshots measuring Bay Area real estate markets.


    San Francisco dominates the news, but it is a relatively small
    real estate market by number of sales.

    Virtually no place else in the country has seen competitive
    overbidding comparable to the inner core of the Bay Area.
    (Though some of it is caused by strategic underpricing.)


    Additional chart: Average days on market by county

    Additional chart: Median condo sales prices by county

    Additional chart: Comparative Bay Area rents

    Additional chart: Housing affordability in the Bay Area


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    Selected Demographic Snapshots


    A few angles on how the Bay Area is different from other places, and how Bay Area counties differ from one another.


    All Bay Area counties have been growing in population. San Francisco
    in particular is very densely populated and getting denser.

    In the spirit of the times, a look at Bay Area political party demographics.

    Along with Washington DC and Seattle, the Bay Area ranks among
    the best educated metro areas in the country.

    The single biggest factor behind strong rent control laws:

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    These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in the Bay Area, each with its own unique dynamics. Median prices can be and often are affected by other factors besides changes in fair market value, and longer term trends are much more meaningful than short-term. It is impossible to know how median prices apply to any particular home without a specific comparative market analysis.


    © 2016 Paragon Real Estate Group
     
    No one knows Bay Area real estate better than Paragon.
    Paragon Real Estate Group
    www.paragon-re.com/

    Pota Perimenis
    Lic# 01117624
    1400 Van Ness Avenue
    San Francisco, CA 94109
    Direct 415-738-7075
    Cell 415-407-2595
    pperimenis@paragon-re.com
    www.sfcityhomes.com