What a challenging and unexpected year for the SF real estate market . Despite major shut downs and changes to our every day lives, the housing market made a consistent recovery. We are gearing up for it to be one of the most intense real estate markets in recent times. This December, we closed 6 units and 2 are pending for 2021!

San Francisco single family home buyers are snapping up properties and keeping purchase prices high, with the median sold price up to $1,655,000, 3.4% higher than last November. However, while condo/loft/TIC sales were strong, prices fell again, this month by 6.9%. That takes it to $1,187,000, which is also below November 2018’s median sold price of $1,200,000. Buyers will continue to purchase homes that fit their new lifestyle. Our team will utilize technology even more this year to engage buyers and execute deals. From touring properties, to helping clients look for the best rates, and working with vendors to secure fast closings… 2020 changed the game in how we do business with our clients.

It looks unlikely that the recent reinstitution of the shut-down in San Francisco and the greater Bay Area will dampen buyers’ purchasing activity. It may actually help keep it high because fewer people are traveling this year for the holidays so they are in town to shop for homes. Covid-19 vaccines are on the way, rapid testing is available, 10 of the BIGGEST tech IPOs have happened in 2020, and more supportive stimulus money is coming… all positive signs that should make a difference in 2021.

Contact us to talk about your neighborhood trends and market statistics. We are ready to help plan out your real estate needs for 2021. Please reach out for a personalized consultation at mia@miatakami.com, 415.729.2596.

Napa, Solano County, Santa Clara County, Marin, San Mateo Market Reports available upon request.