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State of the market in San Francisco: Middle market grows; lower and higher ends decline

As we near Labor Day, what are the dynamics of the San Francisco real estate market?

 

In short, unit sales below $1m and above $2m both dropped by about 9%, while sales of homes in between jumped 12%.

 

Lower-priced home sales (especially houses) were still quite hot and sales under $1 million were clearly decreasing in volume as prices rose in more affordable areas. And sales of higher priced homes were decreasing as that segment cooled off, which would suggest that sales between $1m and $2m would be increasing, i.e. sales volume was increasingly being concentrated in the middle of the market.

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