Q1 is typically a slow quarter, its sales and sales prices mostly reflecting activity during the mid-winter holiday “doldrums,” as the market gradually wakes up in the new year. But there was little in the way of doldrums this winter – sales volume actually peaked for the year in Q4 2020 – and the first quarter quickly accelerated into a very competitive, high demand/low supply market.
Interest rates, though still extremely low by historical standards, have climbed 20% since their all-time low in January.
Within this report, market statistics on individual cities and towns follow the county analyses.
Q1 2021 vs. Q1 2020, Selected Statistics
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- Median House sales price up 11%
- Median condo price down 7%
- Home Sales volume up 28%
- Luxury house sales up 89%
Source: Compass
It is impossible to know how median and average value statistics apply to any particular home without a specific comparative market analysis. These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.
Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.
