In the past decade, the San Francisco’s median single-family home sold prices recovered from a devastating decline in the financial and housing crisis to rise 130% – from $688,000 to $1,577,500. Condo/loft/TIC sold prices rose 94%, from $645,000 to $1,250,000.

These rises compare to the median household income increase over the same time period of 57% – from approximately $70,000 to $110,000.**

2009 mortgage rates were just above 5%, compared to 3.5% today.

Single-family home inventory was higher – 4-5 months for single-family homes vs. half that level today. Likewise, condo/loft/TIC’s inventory was also about double what it is today, which is slightly higher than single-family homes.

The closing year of the decade, 2019, also had a strong median sold price growth: 5.2% and 4.2%, respectively, for single-family home and condo/loft/TIC’s.

Today, the question everyone is asking: what to expect in 2020? All signs remain strong that real estate prices will continue to rise because of the following factors: low interest rates, low inventory, strong buyer demand, and an exceptionally strong job market. Until one of these factors changes, the equation has only one possible outcome: higher prices.