Last month represented the strongest year-over-year gains in median values this year, with both condominium/TIC and single family seeing double digit percentage increases. Single family values continued to be the shining star, with purchasers paying an average of 16% over list price, versus 6% for condominium/TIC. The single family median home price for the City has now passed the $1.5MM mark. Sunset and Parkside continued to see the greatest pressure, with purchasers paying an average of 25% over list price. Another market segment which saw exceptional performance was the middle price tier of $1.2MM to $1.8MM, with purchasers paying an average of 22% over list price. Single family homes over $3MM have also performed well as of late, with a 31% increase in the number of transactions year-to-date, as compared to last year. However, there is currently a three month supply of homes in this price tier, as compared to one month in the overall market. Condominium/TIC performance is also on the upswing, with a ten percent year-over-year gain, and having reached a notable median sale price of $1.2MM.
MEDIAN SALE PRICE
MEDIAN NEIGHBORHOOD VALUES