How did the SF Bay Area real estate market finish 2018?

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Real Estate Agent with Compass CA DRE# 01215160

How did the San Francisco Bay Area real estate market end the year 2018?

Bay Area home sales were up by 1 percent year over year in 3018, while the median price rose by 12 present.

The Chief Economist of Compass, Selma Hepp, also shares that:

  • Santa Clara (Silicon Valley) and Sonoma (think wine country)  ended the year with sales declines, while San Francisco outpaced the previous year with a 9 percent increase.
  • Sales of homes priced higher than $1 million outstripped 2017 activity by more than 20 percent.
  • Overall, the Bay Area's 2018 median home prices were up by 12 percent from 2017, with Santa Clara County posting the larges increase at 20 percent.

For more detailed analysis, read Hepp's full report.

 

Compass' Selma Hepp on Bay Area Home Sales Activity in December from Compass on Vimeo.

 

 

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Tags:
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Rainer
528,129
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Lottie,

It never seems possible that your market could rise much more, but then it does.

Jan 17, 2019 08:03 PM #1
Rainmaker
1,897,436
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Dörte Engel - even those of us here feel that way. The rapid appreciation is expected to slow in 2019, which is a good thing I believe.

Jan 17, 2019 08:08 PM #2
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Jan 18, 2019 02:13 AM #3
Rainmaker
1,897,436
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hello Gita Bantwal - thanks for taking the time to read and comment. Tell me, how did your area perform in 2018? Do you expect similar in 2019?

Jan 18, 2019 07:31 AM #4
Rainmaker
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Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Lottie Kendall We ended the year around 6% with a tumultuous market that has left agents still griping in Sacramento.

Jan 18, 2019 11:10 AM #5
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lottie that is amazing that homes in this high price range continue to increase in sales price at these percentages.

Jan 18, 2019 03:48 PM #6
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Lottie, I may be seeing you in 2019. My son and his family are moving to the Bay area this month. They are renting in Danville for now - no decision to purchase at this point. They are listing their home in Bend, Oregon, it should sell quickly, but they want to make sure they LOVE their new lifestyle before committing to a home purchase. Nate will commute via BART to his new job in down SF.  I'm excited for them, but will miss them being a 3 hour drive away. D 

Jan 19, 2019 10:51 AM #7
Rainmaker
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties sold.

Jan 19, 2019 02:29 PM #8
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Well, I'm certainly gob-smacked by these numbers, Lottie. The one aspect of our market that has tons of inventory and is moving slowly is the $1+ million price point.

Jan 20, 2019 03:04 PM #9
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents - it will be interesting to see how the market performs this first quarter of 2019, both here and in Sacramento.

Jan 21, 2019 09:00 PM #10
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

It is pretty remarkable, George Souto - we'll see what happens in Q1 2019!

 

Jan 21, 2019 09:01 PM #11
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Sally Crane - thanks for your good thoughts and for stopping by.

Jan 21, 2019 09:02 PM #12
Rainmaker
1,897,436
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Debb Janes EcoBroker and Bernie Stea JD - your son is taking an exciting step! Danville is a lovely area, not far from where I grew up in Orinda. I'm glad taking BART is a viable option for him; the commute from the East Bay can be pretty brutal. Towns in San Mateo County, like San Carlos and Belmont are easier commute locals, but one pays the price for easier commute with higher home prices. Life definitely requires weighing pros and cons. My best wishes to Nate and his family.

I do hope you find yourself visiting the Bay Area; it would be delightful to meet up!

Jan 21, 2019 09:06 PM #13
Rainmaker
1,897,436
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hello Nina Hollander - our higher end (over 2 million in San Carlos/Belmont; over 3 million in much of San Francisco) is moving more slowly now than usual, but under those prices still are selling well, but without the frenzy of recent years. Q1 2019 will be interesting to watch develop.

Jan 21, 2019 09:10 PM #14
Rainmaker
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Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Lottie, our high end listings move as slow as a snail. The listings below $200K go fast.

Jan 25, 2019 08:25 PM #15
Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Lottie - you certainly do have an unusual market.  A 9% increase on prices certainly indicates very high demand.

Jan 26, 2019 07:28 AM #16
Rainmaker
1,897,436
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Good morning Rebecca Gaujot, Realtor® - I think the end of a market place is much more likely to stall--most of those purchases aren't driven by a need for housing. Your B&B listing is very interesting; please be sure to keep us informed on developments.

Jan 26, 2019 07:53 AM #17
Rainmaker
1,897,436
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Grant Schneider - if you can believe it, a 9% price increase is considerably lower than in the prior few years, and in 2019 increase is expected to be around 2%-3% in many of our Bay Area cities. It's time for a cooling off.

Jan 26, 2019 07:56 AM #18
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