Take a peninsula with strict land use controls and tech companies like Google, Facebook and Apple, sprinkle it with low interest rates courtesy of central banks and you get median home prices of $1,610,000. That’s San Francisco! And don’t forget to wear flowers in your hair, since you will have to sell them to afford living there!
At least median condo sales price has fallen … to $1,176,000.
Needless to say, the median San Francisco sales price for a home is above the conforming loan limit for the GSEs of $679,650.
This scenic property is also available in San Francisco and also is under Fannie/Freddie conforming loan limits.
This graphic summarizes the housing situation in San Francisco nicely. I like “Most Affordable” at $725,000.
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