May 2023 San Francisco Real Estate Market Report

May 2023 San Francisco Real Estate Market Report

  • Marks Realty Group

Ah yes, another month of San Francisco real estate to dive into! While the market has had its fair share of ups and downs, there's plenty to explore. The median sales price, that sneaky statistic disguising the wide range of prices, took a dip of about 20% year over year. But fear not, it's starting to bounce back!

Now, let's zoom in on the "Downtown/SoMa/Civic Center" district. This area, known for its shiny condo buildings, faced some challenges due to economic and social factors. But here's the twist: the median condo sales price is now similar to early 2017. It's like finding a hidden treasure chest! Opportunities are blooming for savvy buyers who believe in the downtown rebound. You can snag units in high-quality, sometimes even luxurious, buildings at prices that haven't been seen in years. It's like finding a unicorn in a city of fog!

So, brace yourselves for the San Francisco Real Estate adventure. With prices ticking up and hidden gems waiting to be discovered, there's never been a more exciting time to dive into the market. Let's make some real estate magic happen!

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