San Francisco, CA, July 17, 2016 --(PR.com
)-- Hill & Co. Real Estate, San Francisco’s premier residential real estate brokerage, released its 2nd Quarter 2016 San Francisco Real Estate Report today.
For the most part, home prices continued to rise in the second quarter of 2016, but the pace of appreciation has slowed. In general, fewer homes were sold in comparison to last year during the same period. The number of days on market for properties has increased, particularly so for condos. Single-family homes continue to sell at a faster pace than condos, but that’s likely because properties under $2 million are still in high demand. It’s important to note that luxury homes at the upper end of the market are taking longer to sell.
The technology sector has cooled a bit, foreign buyers are pulling back due to a loss of purchasing power and new economic challenges in their home countries, and wealthy buyers in the U.S. are being more cautious given the recent volatility in the stock market. These factors would explain the slowdown in appreciation.
The entire report can be found at http://bit.ly/29V03dx.
The report features a number of charts, including second quarter home sales by neighborhood. This chart has information on the number of sales in each neighborhood, along with median sale prices, percent of change year-over-year, days on market, median price per square foot and the most expensive sale in the quarter.
Hill & Co.
Hill & Co. Real Estate has long represented buyers and sellers in the purchase and sale of many of the City’s finest properties. With three offices and nearly 100 full-time agents the brokerage enables clients to successfully navigate San Francisco’s complex real estate market. For more information, visit www.hill-co.com.