As the San Francisco market pushes through the summer, anticipation of a busy fall season comes to light. Between August and September of last year, the market saw new listings increase by 45%. The current months supply of inventory has held consistent with last month's reading of just 1.5 months. The City's year-to-date median has also remained consistent with last month's reading of $1,200,000. This is an increase of over 22%, in the last two years alone.
The underlying strength of the market remains an ever growing tech industry. The City's Chief Economist estimates that the tech industry's share of private sector payroll has risen from under 5% in 2005 to over 20% in 2015. A number of tech companies in Silicon Valley have recently expressed interest in further expanding their footprint in the City. Mid-Market darling Square, Inc. recently reported a 42 percent yearly jump in revenue. Additionally, Reuters recently reported on the strength of the industry, stating that "Technology profits, which this year have been the biggest contributor to S&P 500 earnings after financials, are now seen growing 3.1 percent in the third quarter, up from the 2.4 percent growth predicted a month ago."
MEDIAN SALE PRICE
MEDIAN NEIGHBORHOOD VALUES
Condominiums
Single Family Homes
TOP FIVE SALES
Condominiums
Presidio Heights, Russian Hill, Marina and Telegraph Hill top the list for the highest priced condos sold in San Francisco this past month. With 5,000 SF and views of the Golden gate Bridge, the top seller was on the market for only 16 days and sold at list price.
Single Family Homes
Pacific Heights, Marina, Presidio Heights and Cow Hollow boast this month's top five single family home sales. A unique property sits in the #1 position this month, a 14 bed, 11 bath National Landmark at 3800 Washington in Presidio Heights.
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