{"id":1004074640,"date":"2013-05-22T06:54:33","date_gmt":"2013-05-22T14:54:33","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=129374"},"modified":"2022-12-07T15:46:26","modified_gmt":"2022-12-07T23:46:26","slug":"median-home-values-in-san-francisco-hit-1m-mark-in-april-as-single-family-housing-heats-up","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/median-home-values-in-san-francisco-hit-1m-mark-in-april-as-single-family-housing-heats-up\/","title":{"rendered":"Median Home Values in San Francisco Hit $1M Mark in April as Single-Family Housing Heats Up"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

There is good news for the area\u2019s housing market, as a recent report from the San Francisco Association of REALTORS indicates that prices have escalated and are now reaching new heights. The SFAR has revealed that according to sales data from April, San Francisco\u2019s median home prices have now surpassed the $1 million mark\u2014a staggering increase from 2012 and a return to pre-downturn levels.<\/p>\n

The San Francisco Association of Realtors has announced that, when compared to the same timeframe in 2012, April 2013 \"\"<\/a>has seen home prices rise by 31.6 percent. The supply of available single-family homes was down by 40 percent compared to last year. There is currently 1.1 months\u2019 supply of homes for San Francisco, with normal values being somewhere around the five or seven-month mark.<\/p>\n

A home only stayed on the market for an average of 28 days last month\u2014a massive 43.5 percent less than the 49 days homes had to stay on the market before trading in April 2012. Condo unit prices also went up in April, as they reached their highest point of the last two years. The average price paid for a condominium in San Francisco in April reached $850,000.<\/p>\n

According to SFAR President Christine Dwiggins, the high sales prices were due to \u201cshrinking inventory combined with low interest rates and motivated buyers.” She also stressed the importance of potential buyers working with a qualified professional \u201cmore than ever if they hope to reach their dream of home ownership in the Bay Area.”<\/p>\n

Image courtesy of user SanjibLemar<\/em> via Wikimedia Commons<\/p>\n","protected":false},"excerpt":{"rendered":"

Good news for the area’s housing market as a recent report from the San Francisco Association of REALTORS indicates that prices have escalated and are now reaching new heights. The SFAR has revealed that according to sales data from April, San Francisco’s median home prices have now surpassed the $1 million mark, a staggering increase over 2012, and a return to pre-downturn levels.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1609],"tags":[1815],"class_list":["post-1004074640","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-francisco","tag-national"],"acf":[],"yoast_head":"\nMedian Home Values in San Francisco Hit $1M Mark in April as Single-Family Housing Heats Up - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/median-home-values-in-san-francisco-hit-1m-mark-in-april-as-single-family-housing-heats-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Median Home Values in San Francisco Hit $1M Mark in April as Single-Family Housing Heats Up\" \/>\n<meta property=\"og:description\" content=\"Good news for the area’s housing market as a recent report from the San Francisco Association of REALTORS indicates that prices have escalated and are now reaching new heights. 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