Table of Content
- San Francisco County Housing Market Trends
- New Listings in San Francisco
- Recently sold homes
- San Francisco Housing Market Trends
- The 5 U.S. cities expected to have the highest rent prices in 2023
- Rentals
- Will the Bay Area Housing Prices Drop?
- San Francisco's Geography & Zoning Restrictions Limits inventory
The strong market fundamentals make the Los Angeles housing market a good place to invest if you’re looking at buying real estate in California. If condo prices are going to drop or remain flat in 2023, people will see a good investment opportunity. They’ll be able to get in at a good price and there will be an increase in demand. If you’re in the market for a condo in San Francisco, that means you could get a great deal. According to several rent reports , rental price declines have hit the bottom and are almost flat as compared to the previous month. This proposition by Google will add thousands of new homes to the Bay Area real estate market over the next ten years.

San Francisco sits on a peninsula, surrounded on three sides by water. Why doesn’t everyone just move out of the San Francisco housing market? Some do move, but they have a one-and-a-half to two-hour commute each way to work because they still want to work there. Moreover, it is the high-tech job market that draws so many people to San Francisco and leaves many others struggling to pay the bills. It is a white-collar city, with fully 90.74% of the workforce employed in white-collar jobs, well above the national average. The minimum annual income required for owning a house in the San Francisco bay area in 2019 was $197,970.
San Francisco County Housing Market Trends
As a result, the neighborhood is family-friendly and much less dense than other areas of San Francisco. At an average price per square foot of $850 – $980, Golden Gate Heights is an absolute steal compared to other neighborhoods in San Francisco. If you are renting an average-priced 3-bedroom apartment in San Francisco, your annual salary should be around $217,080 or higher. If you are renting an average-priced 2-bedroom apartment in San Francisco, your annual salary should be around $181,440 or higher.

The San Francisco Bay Area (-37.3 percent) had the third-largest drop of all regions after the Central Coast (-38.8 percent). Not only that but sales in eight of the nine counties in the Bay Area fell more than 35 percent in October, with Napa plunging the most by 47.5%. The huge decline in sales occurs as mortgage rates increase, discouraging purchasers. Apart from San Francisco, you can also invest in many other real estate markets in California. California's real estate market is the focus of many U.S. and foreign real estate investors. It is a neighborhood in San Francisco County and is also considered one of California's best places to live.
New Listings in San Francisco
Homes in San Francisco receive 2 offers on average and sell in around 29 days. The average sale price of a home in San Francisco was $1.35M last month, down 10.5% since last year. The average sale price per square foot in San Francisco is $948, down 9.63% since last year. The average rent for a 4-bedroom apartment in San Francisco, CA is currently $6,075. The average rent for a 3-bedroom apartment in San Francisco, CA is currently $4,995. As of October 27, 2022, the average rent for a 1-bedroom apartment in San Francisco, CA is $2,999.
As it is the epicenter of the technology industry, there are a lot of people with an immense amount of wealth. Wealth isn’t just limited to the uber-wealthy founders of major tech companies or successful VCs but also the general workforce, whose salaries and incomes are among the highest in the world. Overall, San Francisco is a city of professionals, managers, and sales and office workers. Also of interest is that San Francisco has more people living here who work in computers and math than 95% of the places in the US. The average homes sell for about 1% above list price and go pending in around 18 days. The average homes sell for about 2% above list price and go pending in around 29 days.
Recently sold homes
"Like most large cities in the country, Boston's housing market is undersupplied," said Chen. However, it's especially bad in Boston due to "prohibitive zoning laws that favor single-family homes." Prior to the pandemic, median rent for a one-bedroom home in the Big Apple was closer to $3,000. But prices surged throughout 2021 and have increased steadily for most of 2022.

The tabulated report shows the sales and prices of the Bay Area counties for October 2022. Much of the Bay Area real estate market remains in “seller's market” territory with months of supply of available single-family homes being about 2.3 months at the current pace of sales. Consult with one of the investment counselors who can help build you a custom portfolio of San Francisco turnkey investment properties in some of the best neighborhoods.
San Francisco Housing Market Trends
Zillow's metrics aim to inform and support the decision-making process with relevant market data by measuring monthly market changes across various geographies and housing types. Bernal Heights is considered an ideally located yet still moderately affordable place to raise a family. It’s on the south side of San Francisco, so it’s very easy to commute. Bernal Heights home values have gone up 7.5% over the past year and this neighborhood will continue to rise in value.
The Oakland real estate market is a cheaper version of the San Francisco real estate market with similar rental rates and a slightly friendly legal climate. The Oakland real estate market is second only to San Francisco in terms of rental rates. It is rivaling New York City, Boston, and San Francisco in terms of rental prices.
The closed sales were down by 25.8% from the previous year and 5.4% from the previous month, according to C.A.R. Similar to New York, demand isn't expected to go down anytime soon. "We've seen record numbers of applications for apartments" in areas around New York City, Chen says. The Homes.com Automated Valuation Model provides an estimate of the home value of every on and off market property in the US.

They mostly consist of luxury condos and mega-mansions built for the elite of the Big Tech workforce. This compares with an unadjusted unemployment rate of 3.7 percent for California and 3.4 percent for the nation during the same period. An upcoming recession is likely to have a limited effect on the SF Bay Area’s housing market. It will only temper housing price appreciation but not reduce it. These solid economic fundamentals are integral to maintaining high rental property demand and ensuring a good return on investment.
When looking for the best real estate investments in San Francisco, you should focus on neighborhoods with relatively high population density and employment growth. San Francisco home prices are not only among the most expensive in the state of California but they are also some of the most expensive in all of the United States. According to Realtor.com, Dolores Heights has a median listing price of $2.5M, making it the most expensive neighborhood. Homes for sale in San Francisco, CA have a median listing home price of $1,395,000. There are 1416 active homes for sale in San Francisco, CA, which spend an average of 53 days on the market. Some of the hottest neighborhoods near San Francisco, CA are South Beach, Pacific Heights, Outer Sunset, Mission District, Lower Pacific Heights.
The predicted 2020 job market slowdown won’t result in layoffs, just a drop in job growth to 1.5 to 2 percent a year. Note that the area already has an unemployment rate of 1.2 percent below the national average. First of all, the entire state of California has a consistent housing shortage due to limited land.
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