Revised: Peak Values vs. Current SF Prices – Condominiums

Below, median and average sales prices and average dollars per square foot are given for the last 6 months of sales, and then the percentage change is calculated as compared to the first half of 2007. Sometimes the results are simply abnormal due to unusual events that occurred within one of the comparison periods.

Peak values: Generally, the first half of 2007, before the subprime crisis started to break big time, is considered to be the home-value peak for the city – and that is the period used for comparison below. But some of areas of the city actually peaked in 2006, while others – generally the most affluent neighborhoods – peaked in the first half of 2008. For those areas that peaked earlier or later, the declines from peak values are higher than shown below.

Revised: Peak Values vs. Current SF Prices – Single Family Homes [SFHomeBlog]
Peak Value vs Current SF Value Feb 2009 [SFHomeBlog]

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2 Responses to “Revised: Peak Values vs. Current SF Prices – Condominiums”

  1. It seems San Francisco has not lost so much in price from the top in most areas. I have also real about it having the highest average prices in all US cities.
    What do you attribute San Francisco’s ability to dodge the bullet so to speak?

    Richard Stabile Bergen County Real Estate at May 20th, 2009 at 1:10 am ( )
  2. The standard argument is San Francisco is only seven square miles…but if you’re in South of Market and bought a condo two years ago, you definitely did not dodge any bullets with a 22% decline. However the traditional neighborhoods have held up much better than the rest of the nation – and better than most of the other nine Bay Area counties (which is the real geographical area of the very poorly, and in my opinion irresponsibly, named ‘San Francisco’ Case-Schiller index).

    I think San Francisco has taken it’s hits with the financial industry that had a huge presence in the city, but ultimately still offers a number of very high paying jobs in a cross section of industries (bio tech in this city is just in its infancy) and people continue to be willing to pay a premium to live here. There is a lot of culture and access to nightlife that is hard to replicate.

    Meredith at May 20th, 2009 at 4:25 am ( )

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