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Is San Francisco Luxury Real Estate on the Rebound?

Comments Off on Is San Francisco Luxury Real Estate on the Rebound? 07 March 2011

According to a CNN Money article, “After four straight years of declines, sales of million-dollar homes and condos rose last year in all 20 major metro areas, according to DataQuick Information Systems. On average, these cities saw an 18.6% jump in high-end home sales.

The article goes on to state that “”It hasn’t been a good six months for all people, but it was a good six months for rich people,” said Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin. “When Wall Street goes up, rich people buy homes.””

And Wall Street has been going up!  Not to mention, the higher end of the job market seems to be on the rebound.  A friend that works for a tech recruiting company has mentioned that she’s busier than ever looking for job candidates in the well over six-figure incomes.

So IS luxury real estate in SF on the rebound?

In San Francisco, in 2010 there were 1,083 homes sold over the $1M price range.

So far, in the first 66 days of  2011, 111homes over the $1M price range have sold and another 146 are already in contract, meaning that so far, 257 luxury homes have sold in San Francisco.  At that rate, 1421 homes over the $1M will sell in 2011.  That’s a projected 31% increase in high end real estate sales in San Francisco.

OK, so the numbers are rough, they’re based on a period of increased activity that we have experienced since the beginning of this year, and they don’t take into account the fact that I have no crystal ball to tell you what the future holds.  But … there’s no denying that the outlook for 2011 is fairing better than years past, and if I had to place bets on how the luxury market will fair in SF, I’d say we’ll have a pretty good year ahead.

Where are you going to place your bets?

San Francisco Local Resources, San Francisco Luxury Real Estate, San Francisco Neighborhoods, San Francisco News and Events, San Francisco Real Estate

THE 7 Best Neighborhoods in San Francisco!

Comments Off on THE 7 Best Neighborhoods in San Francisco! 11 February 2011

Here’s a little sumptin sumptin from this week’s edition of Zephyr Real Estate’s “The Market Tracker”.   Besides getting the scoop on ALL of the recently sold AND recently listed properties in San Francisco, you also get cool little SF Tidbits like this one.  Sign up today so you don’t miss out on the bi-weekly awesomeness in your inbox!

7 Best Neighborhoods in the City

7X7 Magazine recently ranked the Best 7 ‘Hoods in San Francisco. Here are the results:

Best For Families: OUTER SUNSET. 30% of the homes have kids, several high-ranked public schools, the ocean, parks, golf and the zoo.

Best Transit: DOWNTOWN/SOMA. Market Street corridor, BART, six MUNI lines, countless bus lines.

Best Restaurant Scene: THE MISSION. 84 Zagat-rated restaurants.

Most House for the Money: NORTH PANHANDLE (a.k.a. NOPA). Average $243 per square foot, $635K median sales price.

Safest: THE PRESIDIO. 19 crimes per half-mile radius.

Most Walkable: LOWER PACIFIC HEIGHTS. The strip of Fillmore from Sacramento to Eddy has just about everything you could need within a few blocks. Dining, shopping, live music, parks, and even a good hospital (CPMC).

Most Luxurious: SEA CLIFF. Oceanfront property and a median sales price of $2.4 Million says it all.

More Notable Numbers:
Youngest Denizens: THE MISSION. Average age is 34.
Oldest Denizens: CHINATOWN. Average age is 48.
Most singles: CASTRO. 66% Single (followed by Marina with 62%).

NOTE: Information was presented by 7×7 Magazine and gathered from 511.org, Craigslist, City and County of San Francisco, Crime Mapping, Golden Gate Mothers Group, Great Schools, Trulia, Yelp, the US Census Bureau, Zagat and Zillow.


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About the Blog


Luba’s San Francisco Real Estate Blog was created to share insights about San Francisco Real Estate and about San Francisco living. Written by Luba Muzichenko, an "almost-native" San Franciscan and a local Realtor® with Zephyr Real Estate, Luba’s San Francisco Real Estate Blog is meant to inform you about a variety of good things and happenings around SF and its unique neighborhoods, about buying and selling homes in the City and about the real estate market in general. If you like what you see, please tell a friend.

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Luba Muzichenko
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