2015 was a banner year for San Francisco real estate. The City-wide median sale price grew sixteen percent to $1,150,000 for the year. The median Days on Market (DOM) figure remained relatively unchanged at 19 days, versus 23 in 2014. The most expensive sale for the year (2701 Broadway) rang in at $31MM, versus 2014’s highest sale of $14MM (2040 Jackson). Yearly sales volume came to $7.15B, a five percent increase versus the previous year.
A strengthening national economy, steadfast tech sector growth and limited new construction are contributors to 2015’s stellar performance. Furthermore, average mortgage rates actually decreased eight percent for the year, coming in at 3.85 percent. Currently, there are about 200 properties listed on the MLS, equating to a 1/2 Month Supply of Inventory (MSI).