{"id":13859,"date":"2021-06-15T06:09:53","date_gmt":"2021-06-15T13:09:53","guid":{"rendered":"https:\/\/www.roomvu.com\/academy\/?p=13859"},"modified":"2021-06-15T06:09:57","modified_gmt":"2021-06-15T13:09:57","slug":"s-f-condo-sales-hit-16-year-high","status":"publish","type":"post","link":"https:\/\/www.roomvu.com\/academy\/s-f-condo-sales-hit-16-year-high\/","title":{"rendered":"S.F. Condo Sales Hit 16-Year High with &#8220;Ferocious&#8221; Buyer Demand, PRICE DISCOUNTS"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" width=\"834\" height=\"145\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 834px) 100vw, 834px\" \/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-video\"><video controls src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/06\/2.mp4\"><\/video><\/figure>\n\n\n\n<p>The SF condo, <strong>tenancy-in-common<\/strong> and <strong>co-op <\/strong>market saw more than <strong>1,300<\/strong> sales between March to May, which is higher from <strong>400 sales<\/strong> a year ago. <\/p>\n\n\n\n<p>While <strong>single-family<\/strong> homes in SF increased <strong>~6%<\/strong> YoY to a median price of about<strong> $1.8M<\/strong>, <strong>condo prices<\/strong> are still off their <strong>highs<\/strong>. <\/p>\n\n\n\n<p>High-rise condo prices decreased <strong>9.1%<\/strong> from pre-pandemic highs, while <strong>mid-rise<\/strong> units decreased <strong>9.6%<\/strong> and <strong>low-rise<\/strong> homes decreased <strong>5.2%<\/strong>, also the median <strong>two-bedroom<\/strong> condo is around <strong>1.3M<\/strong>. <\/p>\n\n\n\n<p>Throughout the entire Bay Area, the <strong>3-month<\/strong> period saw <strong>3,969 sales<\/strong> of homes and condos of <strong>$2M<\/strong> or more, increased <strong>103%<\/strong> from the same period in 2019. <\/p>\n\n\n\n<p>SF <strong>luxury <\/strong>condo and house sales also hit <strong>all-time highs<\/strong> in sales increased <strong>50%<\/strong> and <strong>70%<\/strong> respectively from previous peaks. <\/p>\n\n\n\n<p>There are currently <strong>904 unsold <\/strong>homes for sale in new developments in SF, a decrease of <strong>16.3%<\/strong> YoY, and <strong>381 <\/strong>new condos are in-<strong>contract<\/strong>. <\/p>\n\n\n\n<p>A bigger <strong>differential <\/strong>between condo and single-family home prices is seen and buyers are deciding they can <strong>get more for their money<\/strong> in a <strong>condo <\/strong>building. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" width=\"834\" height=\"145\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 834px) 100vw, 834px\" \/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The SF condo, tenancy-in-common and co-op market saw more than 1,300 sales between March to May, which is higher from 400 sales a year ago. While single-family homes in SF increased ~6% YoY to a median price of about $1.8M, condo prices are still off their highs. High-rise condo prices decreased 9.1% from pre-pandemic highs, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":13873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[917],"tags":[],"class_list":["post-13859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>S.F. 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Condo Sales Hit 16-Year High with \"Ferocious\" Buyer Demand, PRICE DISCOUNTS - roomvu Academy","description":"The SF condo, tenancy-in-common and co-op market saw more than 1,300 sales between March to May, which is higher from 400 sales a year ago.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roomvu.com\/academy\/s-f-condo-sales-hit-16-year-high\/","og_locale":"en_US","og_type":"article","og_title":"S.F. 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