San Francisco Home and Condo Values

San Francisco home and condo values jumped in the first quarter of 2013 according to the latest S&P/Case-Shiller Home Price Index. According to the Index, single-family home prices in the San Francisco MSA rose 3.9% from February to March 2013. Up 22.2% year-over-year, the San Francisco Index remains 29.5% below a May 2006 peak.

On a month-over-month basis, prices jumped across all S&P/Case-Shiller Index San Francisco Price Tiers: March 2013 (www.SocketSite.com)three San Francisco price tiers.

The bottom third (under $397,383 at the time of acquisition) gained 2.6% from February to March (up 25.7% YOY); the middle third gained 4.6% from February to March (up 23.5% YOY); and the top third (over $697,398 at the time of acquisition) gained 3.5% from February to March, up 15.1% year-over-year versus up 12.9% in February.

According to the Index, single-family home values for the bottom third of the market in the San Francisco MSA are back to March 2001 levels (51% below an August 2006 peak); the middle third is back to January 2004 levels (29% below a May 2006 peak); and the top third is back to just below October 2004 levels, 17% below an August 2007 peak.

 

If you'd like to read the full article, please visit Socketsite. If you'd like to learn more information regarding the San Francisco Real Estate market, please contact Jane Hopkins today!