Tag: Q3 2015
As low inventory and high demand persist across the Bay Area, Q3 2015 rode the previous quarter’s record sales prices into another period of high gains.
The luxury market—defined by the top 10 percent of all homes sold—experienced steady year-over-year average sales price gains during the third quarter of 2015.
San Francisco neighborhoods generally saw strong average sales price growth across the board, with seven areas up by at least 20 percent year-over-year. This included gains of 86 percent in the Marina District, and gains of 53 percent in both Russian Hill and Pacific Heights.
This profitable market continues to heavily favor sellers, although opportunities should grow in the coming months for buyers willing to make competitive all-cash offers.
The Mid-Peninsula followed up its record average sales price from Q2 with another commanding showing, as San Mateo County homes averaged $1.598 million during Q3.